Thus, if a user has sold a certain amount of Bitcoins to another user, then the register must contain the relevant information about such a transaction. Let`s make it clear, the registry is required so that every transaction between users can be confirmed. It is needed to mine Bitcoins and gradually fill the public blockchain ledger. The virtual community uses powerful computer hardware to create such recordings. As part of this process, users worldwide are busy building a dedicated transaction ledger known as the blockchain.
In the meantime, the process of creating Bitcoin is called mining. Initially, cryptocurrency was created for the virtual world. Thus, banks, governments, or individuals cannot influence the conduct of a transaction between two users. In other words, the currency is not under any control and is not administered by traditional regulators.
The most important advantage of Bitcoin is the decentralization factor. Nevertheless, the payment tool is excellent for online purchases, online casino funds, and so on. Simply put, you cannot touch it or put it in your pocket like ordinary money. One of the essential characteristics of digital currency is that it exists in the virtual world only.
