Binance How to Bitcoin works

[Unique23]

It's easier to define what Bitcoin actually is. It's software. Don't be fooled by stock images of shiny coins emblazoned with modified Thai baht symbols. Bitcoin is a purely digital phenomenon, a set of protocols and processes.
It is also the most successful of hundreds of attempts to create virtual money through the use of cryptography, the science of making and breaking codes. Bitcoin has inspired hundreds of imitators, but it remains the largest cryptocurrency by market capitalization, a distinction it has held throughout its decade-plus history.
Though Bitcoin's current goal is to be a store of value as well as a payment system, there is nothing to say that Bitcoin could not be used in such a way in the future, though consensus would need to be reached to add these systems to Bitcoin.
Bitcoin is really just a list. Person A sent X bitcoin to person B, who sent Y bitcoin to person C, etc. By tallying these transactions up, everyone knows where individual users stand. It's important to note that these transactions do not necessarily need to take place between humans.

 

[btaliat]

It is just like trading which involves someone who is willing and able to buy looking for someone who is also ready to sell. Then the computer will match the two together to execute the order. But I am confused when the poster said it is not necessarily need to involve humans.

 

[nthabeleng]

Each Bitcoin is basically a computer file which is stored in a 'digital wallet' app on a smartphone or computer.
People can send Bitcoins (or part of one) to your digital wallet, and you can send Bitcoins to other people.
Every single transaction is recorded in a public list called the blockchain.
This makes it possible to trace the history of Bitcoins to stop people from spending coins they do not own, making copies or undo-ing transactions.

 

[Sotherefore]

Yes I know all cryptocurrency is a computer information and protocol that is stored on a digital wallet.Those symbols we are seeing is not the real symbols of all the coin is but it is always a logo that when people see if they will understand what type of cryptocurrency they are referring to. Cryptocurrency blockchain is more complicated than you think.