An increasing number of businesses and consumers are now considering bitcoin, a new type of currency that offers a potential global-encompassing digital payment method. With this growing acceptance, it’s important to learn the essential components of this platform designed to change how we buy and sell products and services. My own company — a time tracking and invoicing platform — is using it, and I’d like to share what we’ve learned.
Personally, I find this technology beneficial, and hope that others will join the growing community.Bitcoin is one of the pioneers of the peer-to-peer electronic cash system, introducing what is known as blockchain protocol to oversee the system. Here’s essentially how it works.