In the bitcoin mine
Bitcoin is the best known of the cryptocurrencies. Bitcoins can be used to pay for goods and services. In this context, there is no central body defining the framework conditions & neither banks, nor states. Bitcoins can neither be reprinted nor endowed with low interest rates.
All bitcoin transactions are recorded in a decentralised, encrypted form & the “blockchain”. In this way, every payment transaction is presented in a clearly understandable way similar to a traditional cash ledger. The cryptographic process, by which the sender, recipient and sums are hashed, requires an enormous amount of processing power.
This fifth and final chapter in the “We have a deal” photo series looks at a private and professional “bitcoin mine” & in other words, different aspects of the global bitcoin infrastructure.