Bitcoin

Bitcoin is one of the most amazing innovation in the modern digital arena.we know the term "MONEY" for purchasing or acquiring any goods and services.money has found many types of forms in our society and economies.Currency is another term which can be use interchangeably with money.Currency is more rigid terms used in a particular society.

Bitcoin is now a most popular used  peer-to-peer digital currency.It works on a bitcoin protocol.Bitcoin is  like a digital cash which can be transfered between people with high security and quickly.It can be used for online payments,for money transfers between peoples.The decentralise nature of bitcoin makes it popular since  it  is not managed by a single person or authority.So the fear of currency manipulation is gone.Another advantage of bitcoin is its cryptographic nature.Cryptographic nature removes the possibility of hacking and frauds.

Bitcoin is abbreviated as BTC.1 BTC is like 1 Euro.It do not exists in physical form rather as a number with a bitcoin address.few terms weshould know for bitcoin transaction.
Wallet :The wallet is a place where we can send or recieve bitcoins.With the help of some software or website we can make wallet.There are three types of wallet:Software based,mobile wallet and web services.
How it works: Suppose we want to purchase some goods with bitcoin.?There is a QR code to scan which gives details about the particulars and cost of the product into the wallet.Then we click on "send" in our client,the details are send to the nearest node of the bitcoin netwrok.In these way the address is found in which we want to send money is found.