What is Bitcoin? (eBook)

 

Though Bitcoin is most commonly known as a monetary system, at its core you will discover a data management system with features and benefits that set it apart from all others.

 

To illustrate Bitoin's data management features, we look at a scenario of how Bitcoin’s fusion of money and data could operate in an everyday scenario.

Although Bitcoin has many aspects in common with other data management systems, it is its differences that translate into unique benefits, such as:

  • An integrated monetary token, allowing for the monetisation of data and the Internet
  • The immutability of the Bitcoin database
  • A distributed server model
  • Interoperability
  • Traceability yet permission-based access
  • Hugely reduced cost of ownership, hugely improved efficiency
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