BTC Price

More About Bitcoin

Blockchain

Bitcoin network is been secured by the minors who can check out all the transactions that are made on a network. BTC is based on the secure and verified transactions: it’s the cryptocurrency. All BTC network transactions will be recorded and anybody may access this any time. Source code of BTC is open, and anyone will be able to consult this. At one time when many alternative payment solutions are emerging, Bitcoin protocol has certain characteristics, which make this very unique, even in face of the modern, secure and fast payment methods, and for that you have to calculate 1 btc to inr.

Decentralization

Having said that BTC is decentralized means no company, state, and organism controls it. Just like email or web, it is just one kind of technology that anybody can use. It implies that it will not change conditions of the use, as no company controls this. An only way you can modify Bitcoin protocol is establishing the consensus between community of the users that can accept modifications of improving this protocol.

As this system is decentralized, it’s just impossible attacking any point for destroying it. Database containing entirety of all the BTC transactions exists in thousands of copies being distributed across the world.

Open Source

Anybody will check out BTC’s source code for the errors and loopholes. In that, protocol will be collectively safe by the whole community. Suppose any problems are found, then they will be treated efficiently and quickly, and not at all slipped under carpet. So, any programmer will propose the modifications and evolutions of a protocol. They are discussed publicly and accepted potentially by the consensus.

Scarcity

Total number of BTC has been set over 21 million. The number is been etched in a protocol itself, and monetary creation in Bitcoin world is been governed by the algorithm that improves number of BTC’s in the regular & orderly way.