What is Bitcoin?
Bitcoin is the first decentralized digital currency created in 2009 by one or more individuals using the pseudonym Satoshi Nakamoto. Bitcoins are not issued or controlled by a government, a central bank, a person, or a company; it is money that exists only on the Internet, also known as “cryptocurrency.” Although it is the most well-known digital currency, there are hundreds of other cryptocurrencies with their own infrastructure.
How does Bitcoin or another cryptocurrency work?
For those unfamiliar with blockchain technology, Bitcoin transactions essentially consist of recording incoming and outgoing coins: “John sent 1 bitcoin to Julia, who sent 1 bitcoin to Alex.” Each transaction is recorded and can be tracked to prevent people from spending bitcoins they do not have. For more details, see the original article online.
Why use a Bitcoin Code?
The Bitcoin Code facilitates transactions for users of cryptocurrencies. How? To send or receive cryptocurrency payments, you need a Bitcoin address. This address contains 34 characters and is unique to each user.
In the following example, the long sequences of numbers and letters are the users’ addresses: 15N3yGu3UFHeyUNdzQ5sS3aRFRzu5Ae7EZ sent 0.01718427 Bitcoin to 1JHG2qjdk5Khiq7X5xQrr1wfigepJEK3t on October 29, 2019, between 12:10 and 12:20.
Writing a long sequence of numbers and letters each time a transaction is made is quite impractical, isn’t it? That’s why the Bitcoin Code generator converts the Bitcoin address into a QR code. Thus, you just have to scan the code with your smartphone to make a transaction. It’s much easier! You can even add a label with the recipient’s name and the requested amount.
In simple terms, how to send cryptocurrencies via a Bitcoin Code:
The recipient/seller must display the Bitcoin Code of the address to which you want to send the cryptocurrency. The sender/buyer must scan the Bitcoin Code of the recipient.
How to create a Bitcoin QR Code?
– Enter the Bitcoin or chosen cryptocurrency address in the address field. Make sure it has 34 characters.
– Specify the amount you wish to receive.
– Then, add a frame and change the QR code color to make it stand out.
– That’s it. You can now download your personalized QR code for free!
You can also use trading robots to automate the buying and selling of your cryptocurrency. There is a popular trading robot also called Bitcoin Code, here you can learn more about using the Bitcoin code and other crypto robots.
Why does Bitcoin have a scripting language?
Now, you are probably wondering why it was necessary to create this programming language for Bitcoin? Well, the main reason is that this system allows for greater flexibility and gives each bitcoin uniquely programmable properties. In fact, thanks to Bitcoin Script, it is possible to create an infinite number of advanced applications. Creations that otherwise cannot be developed and properly maintained.
For example, thanks to Bitcoin Script, it is possible to create multi-signature wallets and addresses. These require that the people participating in the scheme contribute a certain margin to access the funds. Just like a joint bank account. Moreover, it allows, for instance, to program the delivery of coins based on a specific date or event. This enormous flexibility is only possible thanks to Bitcoin Script.
