What is Bitcoin and How it Works What is Bitcoin and How it Works

What is Bitcoin and How it WorksWhat is Bitcoin and How it Works

Click here to other Kerala PSC Study notes.

Bitcoin is a form of digital currency, created and held electronically. It allows you to move money without being traced because all transactions are anonymous. Bitcoins are just lines of computer code that hold monetary value. Those lines of code are created by electricity and computers. Bitcoin was the first crypto coin currency ever invented. Bitcoin’s “creator” is known as Satoshi Nakamoto. They have never been identified.

Bitcoin can be used to buy things electronically. The Bitcoin idea was to produce a currency independent of any central authority, transferable electronically, more or less instantly, with very low transaction fees.

How a Bitcoin Transaction Works

If Alice sends some bitcoins to Bob, that transaction will have three pieces of information:

  • An input. This is a record of which bitcoin address was used to send the bitcoins to Alice in the first place (she received them from her friend, Eve).
  • An amount. This is the amount of bitcoins that Alice is sending to Bob.
  • An output. This is Bob's bitcoin address.

How to sent Bitcoin

To send bitcoins, you need two things: a bitcoin address and a private key. A bitcoin address is generated randomly and is simply a sequence of letters and numbers. The private key is another sequence of letters and numbers, but unlike your bitcoin address, this is kept secret.

When Alice wants to send bitcoins to Bob, she uses her private key to sign a message with the input (the source transaction(s) of the coins), amount, and output (Bob’s address).

She then sends them from her bitcoin wallet out to the wider bitcoin network. From there, bitcoin miners verify the transaction, putting it into a transaction block and eventually solving it.

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Jathas and leaders


Jatha Place Leader .
ഉപ്പ് സത്യാഗ്രഹ മാർച്ച്‌ പാലക്കാട്‌ - പയ്യന്നൂർ ടി ആർ കൃഷ്ണ സ്വാമി അയ്യർ .
കർഷക മാർച്ച്‌ കാസർഗോഡ് - തിരുവനന്തപുരം AK ഗോപാലൻ (1960) .
കർഷക മാർച്ച്‌ പാലക്കാട്‌ - സബർമതി ആനന്ദ തീർത്തൻ .
ജീവശിഖാ മാർച്ച്‌ അങ്കമാലി - തിരുവനന്തപുരം മന്നത് പദ്മനാഭൻ 1959 .
ടെംപിൾ ജാഥ കണ്ണൂർ - ഗുരുവായൂർ AK ഗോപാലൻ .
പട്ടിണി ജാഥ കണ്ണൂർ - മദ്രാസ് എ.കെ ഗോപാലൻ (1936) .
മലബാർ ജാഥ കോഴ...


Kerala Renaissance Study Material Part 1


നവോഥാന നായകന്മാരുടെ പുസ്തകങ്ങൾ .

തയ്‌ക്കാട്‌ അയ്യാ .

ഉജ്ജയിനി മഹാകാളി .
എന്റെ കാശിയാത്ര .
പഴനിദൈവം .
ബ്രഹ്മോത്തരകാണ്ഡം .
രാമായണംപാട്ടു .
ഹനുമാൻ പാമലൈ .

ബ്രഹ്മാനന്ദ ശിവയോഗി  .

ആനന്ദകുമ്മി .
ആനന്ദദർശനം .
ജ്ഞാനകുമ്മി .
മോക്ഷപ്രദീപം .
ശിവയോഗരഹസ്യം .
സിദാനുഭൂതി .
സ്ത്രീവിദ്യ പോഷ...


English Grammar: Idioms Part 2


A bolt from the blue : Unexpected incident .
A chip on your shoulder : Being upset for something that happened in past.
A slap on the wrist : Very mild punishment.
A stone through : Short distance.
A wolf in sheep clothing : A person who cannot be trusted.
Add fuel to the fire : To worsen a situation.
Against the clock : As fast as possible before a deadline.
All Greek to me : Something which cannot be understood.
An arm and a leg : Very expensive.
An axe to grind : To have dispute with someone.
At one's wit's end : Not knowing what to do.
At sixes and sevens : In utter disorder.
At the drop a hat : Showing readiness.
At the eleventh hour : At the last moment.
Baker's dozen : Thirteen.
Beat a dead horse : To force an issue that has already ended.
Beating around the bush : Avoiding the main topic.
Bite your tongue : To...