Bitcoins brought a change in the payment system; money can not only be in the form of traditional currency but also can be in the form of digital cash. The digital cash or digital money is referred to as the cryptocurrency. This cryptocurrency may be in any form and one such is the bitcoin. This bitcoin came into existence in the year 2009 and developed by Satoshi Nakamoto. One crucial feature of this bitcoin is that it is not controlled by anyone or anybody or any authority. The network of the bitcoins is maintained by coders who are a team or a group and it is run by the network of the systems which are of the open-source.
The bitcoin network
These computers which run the bitcoin network are distributed as well as dedicated and this spans the whole world. The financial institutions, as well as the banks, are taken the key responsibility for the maintenance of the integrity of the transactions when it comes to the fiat currencies but here for the bitcoins it is something different as it is the distributed open network that will be doing the work.
The cryptocurrency will be an online currency exchange which is an effective one and the buyers who buy the bitcoins for the investment is in the similar way that will be done with the stocks, here is a caution for investing in the bitcoins as it is better to invest in small amounts to avoid future disappointment. The electronic version of the currency is similar to that of the traditional ones as they have an unlimited supply. here the banks will be controlling the influx of the currency as well as their values which are in relation with the other currencies.