Bitcoin is fast becoming the most popular peer-to-peer, network-based digital currency with various transactions occurring around the world every second it is of great importance for investors, traders and the bitcoin enthusiast to keep abreast with the daily events on the bitcoin network.
There are various websites that help users keep track of transactions within the world bitcoin trading one of which is the "bitcoin monitor" which offers a visual monitor of bitcoin network events in real-time. As transactions are made bitcoins move around different addresses and blocks creating a small number of new bitcoins while simultaneously confirming old transactions all these can be tracked by the bitcoin monitor for easy accessibility by users.
The information provided on the bitcoin monitor is not fully accurate owing to the fact that it doesn’t account for invalid transactions such as a situation where a person attempts to spend a given set of coins in more than one transaction since it plots new transactions as soon as they spread through the network. Although invalid transactions account for an infinitesimal amount of transaction making bitcoin monitor nearly accurate.
Bitcoin monitor maintains an anonymity of the person performing the transactions by creating multiple components where the person’s addresses are hidden among the multiple components.
Bitcoin monitor still maintains a very fast update of the different transactions as they are made when compared with websites that offer similar services.
- Information is given in real-time
- The identity of the person performing the transaction is kept hidden
- Invalid transactions are not reversed so the figures plotted may be slightly inaccurate