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

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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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അക്കൗണ്ട് റജിസ്റ്റര്‍ ചെയ്തപ്പോള്‍ ഉപയോഗിച്ച മൊബൈല്‍ നമ്പര്‍ നല്‍കി പോർട്ടലിൽ (selfregistration.cowin.gov.in) ലോഗിന്‍ ചെയ്യുക. .
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Member Details എന്നതിനു താഴെ മാറ്റേണ്ട വ്യക്തിയുടെ പ്രൊഫൈല്‍ തിരഞ്ഞെടുക്കുക.
Transfer to എന്നതിനു താഴെ അക്കൗണ്ട്...


Confusing facts for PSC Exams Part 4


മിസൈൽ മാൻ ഓഫ് ഇന്ത്യ' എന്നറിയപ്പെടുന്നത്? ഡോ. എ. പി.ജെ. അബ്ദുൾ കലാം.
മിസൈൽ വിമൻ ഓഫ് ഇന്ത്യ' എന്നറിയപ്പെടുന്നത്? ടെസ്സി തോമസ്.
നാഗാർജുന സാഗർ അണക്കെട്ട്  ഏത് നദിയിലാണ്? കൃഷ്ണ.
കൃഷ്ണ രാജസാഗർ അണക്കെട്ട്  ഏത് നദിയിലാണ്? കാവേരി.
അഖിലാണ്ഡമണ്ഡലം അണിയിച്ചൊരുക്കി' എന്നു തുടങ്ങുന്ന ഗാനം രചിച്ചതാര്? പന്തളം കെ.പി.രാമൻപിള്ള.
ദൈവമേ കൈതൊഴാം കേൾക്കുമാറാകണം' എന്ന ഗാന...


Important Government Schemes and Yojanas Abbreviations


AMRUT : Atal Mission For Rejuvenation & Urban Transformation.
APY : Atal Pension Yojana.
BBBP YOJANA : Beti Bachao, Beti Padhao Yojana.
CAD : Current Account Deficit.
CBS : Core Banking Solution.
CORE : Centralized Online Real Time Exchange.
CPI : Consumer Price Index.
DGK : DailyGKZone Telegram Channel.
DICGC : Deposit Insurance and Credit Guarantee Corporation.
DIDF : Dairy Processing and Infrastructure Development Fund.
EDF : Electronic Development Fund.
HRIDAY : Heritage City Development & Augmentation Yojana.
KVKs : Krishi Vigyan Kendras.
KVP : Kisan Vikas Patra.
LTIG : Long Term Irrigation Fund.
M-SIPS : Modified Special Incentive Package Scheme.
MGNREGA : Mahatma Gandhi National Rural Employment Guarantee Act.
MIF : Micro Irrigation Fund.
MSK : Mahila Shakti Kendra.
MSMEs : Micro, Sm...