Bitcoin is an encrypted digital currency and so is called a 'Cryptocurrency'.
- STEP 1: Facilitating a transaction. ...
- STEP 2: Verification of a transaction. ...
- STEP 3: Formation of a new block. ...
- STEP 4: Proof-of-work. ...
- STEP 5: Addition of the new block in the blockchain. ...
- STEP 6: Transaction complete.
Tags:
blockchain