It is still private!
The use of crypto currency is still a farfetched dream for many individuals who want to transact with it. There are many crypto currencies that have come up in the past few years and the most famous and most sought after among them is the bitcoin. Even though it is not in use as far as the common or regular method of transaction is concerned, it is being used by many people for a very novel type of use. You can now to be able earn bitcoin through various methods as many are trying their best o bring it you the common usage.
The block chain:
For those who want to use it or at least try using it, you need to know a few basic concepts on how t all works. You need a biotin wallet which is a said amount of digital; codes that are stored away safely in computer that works on digital signal or codes. These are called as the bitcoin wallets. But there is no bank or other authority that controls it. Just like using an application, you can use it in private transactions. These different networks are called as the block chains. The transaction takes place only within these blocks chains and each account is called a block chain.
The payments that take place using the bitcoin are private and happen only between the groups of block chain members. If you want to be a part of the chain and become a user, then you can earn bitcoin by ways that are very different from that of the regular currency. You can buy and sell things but within the group and the ledger used here is quite different from that of a bank and it is in the form of codes and not in a physical format.