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Consensus mechanism and transaction flow
Part 2 of the series: How does Bitcoin work? This three-part series explains the technological underpinnings behind Bitcoin and its underlying distributed ledger technology (DLT). After the first part of the series introduced the history of Bitcoin and the first important building blocks, such as hash functions, private and public keys, the second part now…
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How does Bitcoin work? Part 1: Introduction and operation
Hardly any other topic is currently being discussed as intensively and controversially as Bitcoin. While Bitcoin supporters predict exponential growth for the crypto asset, critics point out that Bitcoin is nothing more than “play money”. Regardless of the heated debates, the fact is that Bitcoin is gaining traction in emerging and developing markets. Even in…
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Programmable payments and the role of DLT
Distributed ledger technology (DLT) will permanently change some industries. Thanks to its property as a decentralized, tamper- and censorship-resistant database, DLT contributes to generating new business models, increasing process efficiencies and establishing cross-company trust. Use cases for the technology range from industrial use cases in areas such as energy, manufacturing and logistics to financial use…
