Bitcoin Technology Seminar Abstract, Report

An introduction to Bitcoin Technology

Bitcoin is a revolutionary digital currency concept and a payment system. It is an open source software which was introduced in 2008. It is a unique concept of networks which makes possible to use digital currency by the same name. In this concept, the users verify their account to use this technology. Then, there are transaction fees taken for this process and in return, they are given bitcoins. The entire process is known as mining. The transactions which take place are encrypted in order to avoid any kind of theft and to have secure transactions. In order to send and receive bitcoins a software known as 'wallet' is used.

One can use this technology for many transactions in devices like mobile phones, tablets, personal computers and so on. Other than being a unique idea, bitcoin also has economic benefits. Use of bitcoins is cheaper compared to credit card fees. This is also the reason why many merchants and traders have started using bitcoins for money. The wallet software is a peer to peer network software program which stores private keys. This wallet software is available as both desktop programs as well as server utility for merchants and traders. The entire software is open source.

We prepared and published this seminar abstract for final year engineering students seminar research. You should do your own research additional to this information before presenting your seminar.
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