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How does Bitcoin work?

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  • How does Bitcoin work?

    A user sees only amount of Bitcoins on his or her wallet and and transaction results.

    Behind the scenes, the Bitcoin network is sharing a public ledger called the "block chain". This ledger contains every transaction ever processed. Digital records of transactions are combined into "blocks".

    If someone try to change just one letter or number in a block of transactions, it will also affect all of the following blocks. Due to it being a public ledger, the mistake or fraud attempt can be easily spotted and corrected by anyone.

    User's wallet can verify the validity of each transaction. The authenticity of each transaction is protected by digital signatures corresponding to the sending addresses.

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