Ripple is the name for both a digital currency (XRP) and an open payment network within which that currency is transferred.
What is Bitcoin? Bitcoin is a digital currency that uses an open-source, peer-to-peer protocol to conduct, verify and record transactions. It is a decentralized form of currency not backed by any government or financial institution, or pegged to the value of any hard commodity such as gold. Bitcoins are digitally generated according to an algorithm […]
If mobile phone communications, the internet or the power grid should fail -- whatever the reason -- Bitcoin could have a problem.
What determines the value of a bitcoin? You might as well ask, “What determines the value of a dollar?” (Or a euro or a yen … or even gold.) The basic economics of supply and demand helps to account for much of the value of anything: if more people want something than the market is […]
As bitcoins become more widely recognized and used, would-be bitcoin users have a growing number of ways in which they can acquire the digital currency. In the earliest days, An Introduction to Bitcoins notes, converting a local currency into bitcoins often required a face-to-face encounter with other fans in the same area. Mining new bitcoins […]
New bitcoins are added to the system about every 10 minutes through a process called “mining.” This involves using computing power to verify bitcoin transactions across the network by solving cryptographic problems called “hash puzzles.” Bitcoin Mining 101 Here’s how it works: Every bitcoin holder’s balance is designated by a unique bitcoin address, which is […]
The bitcoin economy has become a lively and ever-more crowded place since the first batch of 50 bitcoins – the “genesis block” – was computed into existence on Jan. 3, 2009. But one quiet corner remains: the spot set aside for bitcoin’s pseudonymous creator, Satoshi Nakamoto. As the bitcoin currency approaches its fifth birthday, no […]
