Sunday, December 22, 2013

Are You Bitcoin Ready?

In early 1960s the US Army was building foundations for networking which would change the world. The ARPANET. The scientists working on the project devised a mechanism of peer-to-peer. This means that a server is termed peer to one or many clients which are also termed peer.
Peer to Peer Protocol changed the whole world and laid the backbone of internet. Where everyone is termed equal.
Satoshi Nakomoto, the Japanese wizard has given a financial taste to this peer to peer. This is the essence of Bitcoin.
Now, the crucial question is, what is the catch? The catch is the password. Though everyone is considered equal in internet there is a statutory requirement of password. All the users of internet cannot utilise all the services of the internet because many sites require password.
Let us together, now, expand this concept and fully discuss the implications of Bitcoin. Here we go . . .

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