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What is Bitcoin | What is Cryptocurrency | How Does Bitcoin Work ? | Great Learning

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Learn about Bitcoin in 10 minutes! Bitcoin is a type of cryptocurrency, it is virtual in nature and is stored in a digital wallet. Bitcoins or par of a bitcoin can be sent across from one person to another and every such transaction is recorded in a public list called a blockchain. Blockchain, also called Distributed Ledger Technology (DLT), enables us to make a digital asset transparent through the use of cryptography and decentralization. Blockchain is a technology that cryptographically secures the system, chains data chronologically, and permits transactions to be recorded permanently.

Great Learning brings you this video on “What is Bitcoin? Explained in 10 minutes!” In these 10 minutes, we aim to give a concise and brief understanding of bitcoin and how it works. We then discuss the concept of Bitcoin mining and look at how much a bitcoin costs. Finally, we understand bitcoin’s impact on our lives. We take you through a thorough explanation of the bitcoin to help you understand the topic better.

00:00:00 Introduction
00:01:59 What is Bitcoin?
00:04:13 How does Bitcoin work?
00:06:10 What is Bitcoin mining?
00:07:30 What does 1 BTC cost?
00:09:20 Impact of Bitcoin on our lives
00:10:20 Are governments on board with Bitcoin?
00:11:12 Conclusion

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