The title above may be quite confusing for readers but one thing you should know is that the question: “How it works?” is a section on Bitcoin.org that talks about the mode of operation of Bitcoin. There have been controversies on how Bitcoin works; and while few people actually know how it works i.e. the fundamentals, others just know the rudiments.
The website offers a quick explanation on how Bitcoin really works with perfect understanding even by a layman. All you need to do is;
1. Install your Bitcoin wallet in PC or mobile device.
2. Generate a Bitcoin address (Create as many as possible).
In doing the above listed, you can start paying or receiving payments easily from friends and families. However, there are 4 other topics in which the Guide talks about in using Bitcoin, they include;
1. Balances through Blockchain which is a shared public ledger.
2. Transactions through the use of a private key or seed or even signature to avoid fraud and theft.
3. Processing is an important to consider when talking about Mining with cryptocurrencies like Bitcoin.
4. Lastly, the rabbit hole which explains that all above is just a summary of Bitcoin. For more information on what have been summarized above, you need to get the original paper called the Whitepaper that talks about the design, documentation and history.
- Official page for Bitcoin where you learn how it works.
- Very easy to read and comprehend.
- Tips on how to avoid Bitcoin fraud and theft.