Bitcoin

Basically, Bitcoin uses public and private key cryptography (asymmetric cryptography). A part contains the public key of its owner. When a part is transmitted from user A to user B, A adds the public key of B to the part and then signs it with its own private key. B then owns the part, and in turn can transmit it.

In order to prevent A from transmitting to a user C the part already used, a public (but anonymous) list of all past transactions is maintained collectively by the network of the Bitcoin nodes. Thus, it will be checked before any transaction that the piece has not yet served.

The basis for a new user

• As a new user, you only need to choose a wallet that you will install on your computer or on your mobile. Once ready, your wallet will create your first Bitcoin address and you can create new ones whenever you need it. You can communicate one of your Bitcoin addresses to a friend so that he can pay you. In the same way, you can pay your friends if they give you their addresses. In fact, exchanging Bitcoins is quite similar to exchanging emails. Then, it remains only to get some Bitcoins and to keep them in safety. As a user, you do not need to know the technical operation.

However, if you want to know more, keep reading!

Chain of Blocks

• The block string is a shared and public transaction log on which the Bitcoin network is based. All confirmed transactions are included in the block chain without exception. In this way, it is possible to verify that each new transaction exchanges bitcoins belonging to the issuer of the payment. The integrity and chronological order of the block chain is protected by cryptography.
  

Transaction

• A transaction is a value transfer between Bitcoin addresses that is included in the block string. The Bitcoin purses keep secret information for each Bitcoin address, which is called a private key. Private keys are used to sign each transaction, providing mathematical proof that they come from the right owners. The signature also prevents the transaction from being modified once it is issued. All transactions are broadcast between users and are confirmed by the network in the following minutes via a process called mining.
  

Blasting

• Mining is a distributed consensus system that is used to confirm pending transactions by including them in the chain of blocks (a confirmation means that a transaction has been verified by the network and that its chances of being reversed are almost non-existent A single confirmation provides a good level of security For large payments it is strongly recommended to wait for a transaction to have accumulated more confirmations - six is ​​the most common standard and each new confirmation reduces the risk of a rollover Exponentially). Mining imposes a chronological order in the chain of blocks, protects the neutrality of the network and allows the computers in the network to agree on the state of the system. To be confirmed, transactions must be included in a block (a block is an addition to the block string that contains and confirms several pending transactions.)

• Every block approximately a block is added to the block chain via mining every 10 minutes ) Which must correspond to very strict cryptographic rules which are then verified by the network. These rules prevent the modification of an earlier block because the logic of the following blocks would be broken. And they create the equivalent of a competitive lottery that prevents any individual from adding blocks consecutively in the chain of blocks. In this way, no individual can control what is included in the chain of blocks or replace parts to cancel his own transactions.

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