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Cryptography which transformed the currency value
Bitcoin is a decentralized digital currency that can be transferred on the peer to peer bitcoin network. Bitcoin transactions are verified by network nodes through cryptography and recorded in a public distributed ledger called a blockchain.
Bitcoin has been described as an economic bubble by at least eight Nobel Memorial Prize in Economic Science recipients. Transactions are defined using a Forth like scripting language. Transactions consist of one or more inputs and one or more outputs. When a user sends bitcoins, the user designates each address and the amount of bitcoin being sent to that address in an output. To prevent double spending, each input must refer to a previous unspent output in the blockchain. And created in a graphical way for interested people who ever interested like can look.
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