Skip to main content

Bitcoin: Futuristic digital currency


Few technologies have the ability to stir passionate online debate and baffle the vast majority of the population like bitcoin. It is a virtual currency which has been source of confusion since it has been introduced in the market. As we see Bitcoin's worth keeps on increasing and now people who had vast amount of Bitcoin during its introduction are now millionaires.

Is bitcoin the future currency? Is it even a currency? What is it for? Should I buy some? Following are some answers to the questions.

Satoshi Nakamoto, an anonymous internet user, invented bitcoin in 2008 before it went online in 2009. Without conclusive proof many attempts to identify Satoshi have been made. Bitcoin is a digital  that uses decentralized technology for secure payments and storing money that doesn't require banks or people's names. It was announced on an email circular as a way to liberate money. People see value in money independent from government control and from fees charged by bank. Bitcoin has been seen as a tool for private, anonymous transactions, and it’s the mode of payment preferred by drug dealers and other illegal purchases.

Bitcoin works on blockchain also known as public ledger, it holds decentralized record of all transactions that are updated and held by all users present in the network. To create bitcoins, users must generate blocks on the network. Each block is created by harnessing computer power of user. Iti s then added to the blockchain, letting users earn by keeping the network running. A limit has been set for how many bitcoins can be created so these values can't be changed.  The maximum 21 million bitcoins can be generated or harnessed. Currently there are 15 million bitcoins in circulation and count keeps on increasing.

The price of a bitcoin has jumped up and down since it first entered the mainstream consciousness in 2013. Prices slowly crept up after that but have since surged again. Currently 5.8 million users cryptocurrency wallets and the majority of whom use Bitcoin. Bitcoin has a range of uses, including funding companies, investing cash and transferring money without fees. It is commonly associated with criminal activities such as drug dealing, cyber crime and money laundering, since it is  impossible to tie a bitcoin wallet to any one individual.

Comments

Popular posts from this blog

Android Pie: Cool features you shouldn't overlook

In this era of technical growth companies have been trying to improve user experience by making device usability better and handy. As mobile phone are being introduced with various new technologies for eg. face recognition which uses AI to enhance the user experience, similarly many other inventions are being worked on at present and support those new features the OS needs to be upgraded to match their pace with the development of technology. Or it may also be said that with advancement in the OS versions the Mobile companies need to be design the phone to cop its level.
Android 9 controls the power of artificial intelligence to provide more from the smart phone. Now it's smarter, faster and adapts with usage.

Tailored to you
Android 9 adapts to users and how they use their phone by learning user preferences as they go. Experience keeps on getting better and better over time, and it keeps things running smoother, longer.

App Actions:
The phone will now readily know about user's…

What is Deep Learning - Explained in General Terms

Deep Learning, Machine Learning and Artificial Intelligence are the terms which are being used interchangeably these days. Suddenly every one is talking about them – irrespective of whether they understand the differences or not! Whether one have been actively following data science or not – everyone would have heard these terms. But no one has a clear understanding of what is Deep Learning. Basically it is subset of Machine Learning which in turn is subset of Artificial Intelligence.

Deep Learning is type of Machine Learning which teaches computers to perform actions by learning from examples. Deep Learning is the key technology being used in Driver-less cars that enables them to recognize a stop sign and differentiate between a person and lamppost.It is the key behind the voice controls in various devices like phone, tablets, TVs and hands-free speakers. Deep Learning is gradually prevailing and getting attention lately. Using it, impossible results have been achieved.

In deep lear…

Chromecast: All you need to know

Digital media player, Chromecast is a small dongle developed by Google for accessing playbacks from mobile device or computers on high definition TVs. The device controls/initiate the playback of internet streamed audio and visual content on TVs through mobile or web Apps. The device supports Google cast for mirroring of content on HD TV's.

Google Cast SDK is a third party modification software which was released on 3rd Feb, 2014. Third party Apps can use google cast for enabling their apps to be accessible through Chromecast on high definition Tvs. After the release, 20,000 google cast ready apps were sold till May 2015. 30 million units of Chromecast are sold till now in US making it the best seller streaming device in US in 2014.

There are three Chromecast device launched till now:
1. Chromecast 1st Generation
2. Chromecast 2nd Generation
3. Chromecast 3rd Generation


Chromecast 1st Generation
It is the first Chromecast device announced on July 24,2013 and was made av…