According to investopedia the simplest definition of blockchain is a digitized decentralized public ledger of all cryptocurrency transactions it was originally developed as the accounting method for bitcoin the virtual currency. This decentralized structure allows them to exist outside the control of. A cryptocurrency is a new form of digital asset based on a network that is distributed across a large number of computers.
The public key comparable to a bank account number serves as the address which is. Bitcoin balances are kept using public and private keys which are long strings of numbers and letters linked through the mathematical encryption algorithm that was used to create them. September 6 2014 at 2 45 am.
Bitcoin definition investopedia. The main principles of bitcoin definition investopedia bitcoin was created with the intent of ending up being a worldwide currency to replace government issued fiat currencies. It follows the ideas set out in a whitepaper by the mysterious and pseudonymous satoshi nakamoto.
Bitcoin is a digital currency created in january 2009 following the housing market crash.
