More about Bitcoin

The era of Bitcoin and blockchain technology

What do you think when you talk about Bitcoin, as you seethe technology applied in this type of digital money. Let’s tell the history of the BTC its algorithm and it brings forward. All people have ever heard of bitcoin and cryptocurrencies, asa major future source that can be accepted as a means of payment. The technology applied to speculative form is revolutionary and difficult to understand.

A little history of the BTC

It all begins in the 9th century with the Arabic mathematician Al Juarismi, from which comes the name of “algorithm”. Analgorithm is an automatic mathematical procedure (alsocalled a “protocol”) that executes a default succession of operations. An algorithm is something very old but at the same time modern, because it can run a computer. All the electronic devices around us execute them.

Blockchain technology is a mathematical algorithm. The objective of the algorithm is to decide, without human intervention, the consensus of a network of users: to establish what is the opinion of the majority. This problem seems easy to solve and we know of a solution since antiquity: the electoral consultations. It is sufficient for eachuser to issue a vote and then the algorithm will count. But automating the process is not so simple. For an electoralconsultation it is necessary to have an important logistics:creation of a census, organization of electoral tables, local counts. We do not want anyone to control the process to avoid possible bug or voter fraud.

Published on: 12/22/18, 12:32 PM