In non-technical language, Bitcoin is a digital asset in which transactions can be performed without the need for a credit card or central bank. It’s designed to enable users to send money over the Internet in a very simple and efficient way.
In short, no one runs Bitcoin. Bitcoin is run collectively by the users who uses the Bitcoin Client, and any changes to the Bitcoin system have to be approved by the majority of users before they are implemented.
A Bitcoin Wallet is a place where you can store your Bitcoin balance efficiently and securely. There are a few kinds of wallets that you can choose and install in your PC/Laptop, smartphone, tablet or in the cloud. To create your own wallet, you can visit sites or companies that offer services in providing secure […]
A Bitcoin address is a unique identifier which allows you to receive Bitcoins. With PayPal you send funds to an email address, and similarly with Bitcoin you send funds to a Bitcoin address. For example, this is one of our Bitcoin addresses: 1JArS6jzE3AJ9sZ3aFij1BmTcpFGgN86hA. Please verify that you have copied the destination address exactly before sending Bitcoins […]
A private key is a secret code which allows the user to prove his ownership of his Bitcoins. Every Bitcoin address has a matching private key, which is saved in the wallet file of the person who owns the balance. The private key is mathematically related to the Bitcoin address, and is designed so that the […]
The transaction is usually free if the sum transacted is greater than 0.01 BTC. A token sum is imposed to provide some incentive to the miners to include the transaction in the blockchain. At the moment, many transactions are typically processed in a way where no fee is expected at all, but for transactions which draw […]
It means that the transaction has not yet been included in the blockchain, and is still reversible. A transaction typically takes around 10 minutes to be confirmed. When that happens, it is said that one confirmation has occurred for the transaction. With each subsequent block that is found, the number of confirmations is increased by […]
The blockchain is a public ledger of all transactions in the Bitcoin network. Blockchain.info allows you to navigate the bitcoin blockchain. We also operate Bitcoin’s largest and most secure wallet service.
Miners are individuals who run computer systems to repeatedly calculate hashes with the intention to create a successful block and earn coins from transaction fees and new coins created with the block itself. The term references an analogy of gold miners who dig gold out of the ground and thus ‘discover’ new gold that can […]
The number of Bitcoins in existence will never exceed 21 million. To see how many Bitcoins are in circulation, please go to: https://blockchain.info/charts/total-bitcoins