What is Bitcoin and how does it work?

The cryptodivisa was born in 2009, when someone with the pseudonym Satoshi Nakamoto sent an article by email to experts in cryptography and digital code.In it he described the characteristics of this digital money and attached a code with which to make the so -called 'mined' of this virtual currency, the process to validate and carry out the transactions.Even today, Nakamoto's identity is unknown and if he is a single person or a group of them.

The idea of having a safe currency outside the system and the control of banks caused furor.More and more people adopted it to make transactions, and little by little it became popular.

How does it work?

Bitcoin is born and lives in the blockchain (block chain).And what is the blockchain?It is difficult to offer a simple explanation, so we better give an example.Imagine that the Internet is the courtyard of a school.There, children exchange prints, food or toys, but all transactions are carried out under the control of the teacher, who remains a commission.One day, children decide to 'decentralize' their exchanges, and create a common and transparent account book.This book is made up of identical blocks or nodes, where exchanges information is automatically updated, and each child has access to one of them.It is not possible to manipulate or falsify them, and it is no longer necessary to have a central authority.

Simplifying, blockchain is a public, transparent, safe database, and that is in the hands of all users who want to use it to exchange information, goods or services."This is what makes it so sure, because the only way to prove this type of operations is that we all have the same copies," says Maximiliano Hinz, in charge of operations in Binance, a cryptocurrency exchange platform.

Virtual currencies have prospered thanks to this blockchain system, and Bitcoin is the most value and the one that has achieved the greatest adoption.It is the first case of use of blockchain technology worldwide, and is "super safe, there has never been a case that blockchain operations have doubled," says Hinz.