They can be described as deflationary currencies inherently regulated by a network of computers that use their computational power to solve algorithms whose union maintains a decentralized public Ledger; that is, there is no need for a central authority to verify the transactions made among its users. For some, Crypto currency exchange Development Company are the crystallization of accumulated mistrust in the current financial system. . For others, it represents the birth of a "global insurrection against the banking occupation" and the change to a social paradigm that moves away from Keynesian economic models that have taken the world economy to the breaking point." It is worth mentioning that both groups are not exclusive, rather they seek to give confidence to those who have a libertarian mind and desire to move towards a free economy of excessive levels of debt, and by founding in its place a solid monetary platform that encourages saving and prudent financial behavior.
When cryptography began to be widely available and understood in the 1980s, many researchers began using it to build digital currencies. These first projects of digital currencies issued digital money and usually backed by a national currency or precious metals such as gold. However, although these digital currencies worked, they were centralized and, as a result, they were easy targets for attacks carried out by governments and groups of crackers. The first digital currencies used a "central clearinghouse" to settle all transactions at regular intervals, just like a traditional banking system. Unfortunately, in most cases, these nascent digital currencies were attacked by antagonistic governments and finally were taken to litigation where they were left out of the economy. Some failed spectacularly when the parent company liquidated a bruptly To deal with this problem of intervention by antagonistic governments, be they legitimate or organized crime, the decentralized digital currency was needed to avoid a single point of attack. Bit coin is that system, designed to be completely decentralized and free of any central authority or control point that can be attacked or damaged. Bit coin represents the culmination of decades of research in cryptography and distributed computing systems. Do you want to join the technological revolution that is putting the financial industry upside down? Read this text and reflect.
What is Bit coin technology?
Surely you have heard one of your friends "techies" talk about the Internet currency (Andreas Antonopoulos coined this way). Bit coin consists of the following four parts:
• A decentralized peer-to-peer network (the bit coin protocol).
• A public book of transactions (the block chain).
• A mathematical and deterministic decentralized currency issue (distributed mining).
• A decentralized transaction verification system (transaction script).
Bit coin is a collection of concepts and technologies that form the basis of the most popular digital money system. Currency units called bit coins are used to store and transmit value among the participants in the bit coin network. Bit coin users communicate with each other using the bit coin protocol, mainly through the internet, although other transport networks can be used. The bit coin protocol stack, available as free access software, can be launched on a wide range of computers, including laptops and smartphones and even tablets, making it an easily accessible technology. Users can transfer bit coin in the network to do almost anything that can be done with conventional currency (Mexican peso in our case) including buying and selling material goods, sending money to people or organizations. Bit coins can be bought, sold and exchanged for other conventional currencies. For Andreas Antonopoulos (2015: 1) Bit coin "is somehow the perfect form of money for the internet because it is fast, secure and without borders".