Cryptocurrency Q&A
What is bitcoin peer-to-peer payment & how does it work?
What is bitcoin peer-to-peer payment & how does it work?
CryptoElite
Thu Jul 18 2024
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7 answers
2284
Could you elaborate on the concept of Bitcoin's peer-to-peer payment system and explain how it functions in a concise manner? Specifically, I'm interested in understanding the underlying principles of this decentralized payment network, how transactions are verified and secured, and how the system ensures the integrity of payments between individuals without relying on traditional financial institutions. Additionally, I'd like to know how Bitcoin's peer-to-peer nature contributes to its unique advantages and challenges.
7 answers
CryptoConqueror
Sat Jul 20 2024
Cryptocurrency transactions are conducted in a manner that eliminates the need for intermediaries.
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Paolo
Sat Jul 20 2024
Funds move directly from one user's wallet to another, ensuring swift and efficient transactions.
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amelia_miller_designer
Fri Jul 19 2024
Bitcoin's decentralized peer-to-peer network is the backbone of this process, creating a trustless environment for global payments.
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KpopStarletShineBrightness
Fri Jul 19 2024
One example of a cryptocurrency exchange that offers a range of services is BTCC. Based in the UK, BTCC provides users with access to spot and futures trading, as well as wallet services.
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mia_harrison_painter
Fri Jul 19 2024
This network allows for transactions to occur directly between individuals, without the involvement of traditional financial institutions.
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