How does a Public Listing make Things Anonymous

How does a Public Listing make Things Anonymous

The public listing only shows the transaction ID and the amount of currency transferred. You will be anonymous in the system because you don’t need to provide any of your personal details like your name, address, email, phone number, etc.

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What is Double Spending?

What is Double Spending?

Satoshi solved this problem by showing all transactions in a public list. Whenever a new transaction is made, its validity is checked by confirming from the list that the digital currency was not used before. This way, no one can copy the currency and use it for more than one time. It’s a simple but effective idea to stop double spending of the same bitcoin.

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What is so Special about the Bitcoin System?

What is so Special about the Bitcoin System?

All previous monetary systems have relied on trusting somebody, whether it was the king, town hall, the federal reserve, or banks. BitCoin doesn’t. It’s guaranteed instead by the laws of mathematics, and that’s why it has everyone from technologists to economists very excited.

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Who developed the Idea of Bitcoins?

Who developed the Idea of Bitcoins?

The concept of Bitcoins was developed by Satoshi Nakamoto, who resides in total anonymity. He is said to be from Japan but his mail ID was from Germany, plus the bitcoin software was not available in Japanese. He developed the system and the Bitcoin software that is used to run the system.

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