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Bitcoin (abbreviation: BTC; sign: ₿) is the first decentralized cryptocurrency. Nodes in the peer-to-peer bitcoin network verify transactions through cryptography and record them in a public distributed ledger , called a blockchain , without central oversight.
A binary-to-text encoding is encoding of data in plain text.More precisely, it is an encoding of binary data in a sequence of printable characters.These encodings are necessary for transmission of data when the communication channel does not allow binary data (such as email or NNTP) or is not 8-bit clean.
Virtual currency, or virtual money, is a digital currency that is largely unregulated, issued and usually controlled by its developers, and used and accepted electronically among the members of a specific virtual community. [ 1] In 2014, the European Banking Authority defined virtual currency as "a digital representation of value that is ...
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The legal status of cryptocurrencies varies substantially from one jurisdiction to another, and is still undefined or changing in many of them. [1] Whereas, in the majority of countries the usage of cryptocurrency isn't in itself illegal, its status and usability as a means of payment (or a commodity) varies, with differing regulatory implications.
Cryopreserved at Alcor Life Extension Foundation. Known for. First Bitcoin recipient. Harold Thomas Finney II (May 4, 1956 – August 28, 2014) was an American software developer. In his early career, he was credited as lead developer on several console games. He later worked for PGP Corporation.
In 2009, the Bitcoin network went online. Bitcoin is a proof-of-work digital currency that, like Finney's RPoW, is also based on the Hashcash PoW. But in Bitcoin, double-spend protection is provided by a decentralized P2P protocol for tracking transfers of coins, rather than the hardware trusted computing function used by RPoW.
A cryptocurrency wallet is a device, [ 1] physical medium, [ 2] program or an online service which stores the public and/or private keys [ 3] for cryptocurrency transactions. In addition to this basic function of storing the keys, a cryptocurrency wallet more often offers the functionality of encrypting and/or signing information. [ 4]