What is Bitcoin

affankhan (30)in #bitcoin • 7 years ago

This is a question that is very hard to answer. There is a lot of material to cover here, its so huge that Andreas M.Antonopouos has written a whole book on what it exactly is.

Which recently had a second publication to it. The book is titled Mastering Bitcoin and is highly recommended to be read to understand in depth of what it is and what are its implications.Some of the context that I write here will be taken from that plus combined with our own understanding of what bitcoin is and why it matters to Pakistan.

Bitcoin is a collections of concepts and technologies, which forms the basis of money ecosystems. In addition, its a system that allows boarder-less transfer of value.

While most people call bitcoin a currency or money, its much more than that. Its a technology that forms the basis of transparency, verification and accountability over a trust-less network.

This is a lot to take in initially, but as you will start to have the understanding of btc(bitcoin) you will realize its importance as a technology.Right now the bitcoin network is the biggest network in the world its more then 20 times the combined power of worlds top 500 super computers and increasing on a daily basis. This in turn makes it the most secure network in the world.