dcsimg
June 21, 2018
Hot Topics:

Open Source Peer-to-peer Electronic Currency with Bitcoin

  • December 30, 2010
  • By Developer.com Staff

ReadWriteWeb's Klint Finley interviewed Bitcoin contributor Gavin Andresen about how the open source Bitcoin project works.

According to the Bitcoin Web site, "Bitcoin is a peer-to-peer digital currency. Peer-to-peer (P2P) means that there is no central authority to issue new money or keep track of transactions. Instead, these tasks are managed collectively by the nodes of the network."

"The really novel idea," Andresen said, "is a mechanism for preventing bitcoins from being spent more than once without relying on a central authority."

So while companies like Facebook and Twitter cling to old-fashioned centralized servers and data hoarding, open source projects like Bitcoin and Diaspora are pushing the boundaries of decentralized computing.


View Article



Originally published on https://www.developer.com.


Comment and Contribute

 


(Maximum characters: 1200). You have characters left.

 

 


Enterprise Development Update

Don't miss an article. Subscribe to our newsletter below.

By submitting your information, you agree that developer.com may send you developer offers via email, phone and text message, as well as email offers about other products and services that developer believes may be of interest to you. developer will process your information in accordance with the Quinstreet Privacy Policy.

Sitemap

×
We have made updates to our Privacy Policy to reflect the implementation of the General Data Protection Regulation.
Thanks for your registration, follow us on our social networks to keep up-to-date