What is a Bitcoin? What is Blockchain Technology?
What is a Bitcoin? What is Blockchain Technology? 2017 was a year when Bitcoin's price and its hype saw its new peaks. I've seen Bitcoin's value fluctuate a lot. I've seen a lot of people investing in Bitcoins, earning money, losing money without understanding what Bitcoins, Crypto Currency and Blockchain are! Some people say Bitcoin is nothing but just a bubble and it's going to crash soon. Some people say Bitcoin is the future of currency and investments. But what is a bitcoin? And what is all the fuss about? Let me tell you that non technical people can also understand its basics. So, let's start from the bottom! Types of Network Architectures: To understand Blockchain Technology, first we need to understand the three basic network architectures. (i)Centralized (ii)Decentralized (iii)Distributed Centralized network is where there is only one centralized processing authority and rest all the nodes are directly connected to this unit. Decentralized n...