| json_metadata | "{"app":"musing/1.1","appTags":["Bitcoin"],"appCategory":"Bitcoin","appTitle":"If my neighbor ask me, what is bitcoin, what should I tell in a simplest possible way?","appBody":"<p>Okay, you can say to your neighbor in the following ways about bitcoin-</p>\n<ul>\n <li>It is a cryptocurrency, a form of digital currency.</li>\n <li>It is decentralized means not issued by anyone, nor backed by ordinary currency.</li>\n <li>There is no centralized server neither any third party to validate a transaction.</li>\n <li>There is a consensus protocol like PoW(Proof-of-Work) to keep secure the bitcoin network.</li>\n <li>There is a reward system in place for the miners who validates a block. Anyone can participate in mining as long as they have the required mining set up.</li>\n <li>Blocks are records of prior transactions.</li>\n <li>Transactions are broadcasted in the network. It is a transparent public ledger and any one can see and audit a transaction.</li>\n <li>The transaction in the bitcoin network happens through peer to peer and no third party is involved.</li>\n <li>Bitcoin is backed with blockchain technology which uses cryptography to ensure security.</li>\n <li>One is free to buy or sell coin with others and can easily trade it. It is boarder less & censor free.</li>\n</ul>","appDepth":2,"appParentPermlink":"fkh7hlw7w","appParentAuthor":"groynes","musingAppId":"aU2p3C3a8N","musingAppVersion":"1.1","musingPostType":"answer"}" |
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