Bitcoin a Digital Currency

What is Digital Currency?

A digital currency is electronic money which is exchanged electronically when some transaction takes place. These involve the use of computer networks, internet and digital storage value systems.

What is Bitcoin?

It is a peer to peer currency i.e. no central authority issues new money or tracks transaction. The tasks are managed by the network instead. Hence, it eschews central authorities and issuers.

Wallet in Bitcoin>>

Wallet in bitcoin shoes the user their available bitcoin balance, transaction history, and the collection of bitcoin addresses they may use to send and receive bitcoins with other users. Therefore, users in bitcoin interact with the help of wallet which may be either stored on their computer by the bitcoin software or hosted on a third-party website.

To know more about bitcoin please refer to: Bitcoin Wiki, http://www.bitcoin.org/