Bitcoin - IT professional and society Essay Example | Topics and Well Written Essays - 750 words

Bitcoin - IT professional and society - Essay ExampleIt is supported by the network and created as a part of take for any work to be processed. Furthermore, it is created by users that stomach offer their computing power for record and confirm payments.Most of the action and buying be done by the help of credit or debit card. The use of credit card via online is insecure and never supposed to be used by the online users. The transaction done through Bitcoin does not require providing any secret information. People who are the victim of victimization credit card for online transaction are trying to use Bitcoin as a solution. Bitcoin is safe and require two keys such as private one and public key. Private Key is secret and is not revealed to any users. Public key is the actual Bitcoin address. One of the biggest retailers, Overstick.com is accepting the use of Bitcoin. Lot of major organizations and companies are winning the notice of making transaction secure and trying to imp lement the use of digital currency, Bitcoin.The innovation of Bitcoin has been one of the debated topics and buzzwords around the world. The effect of Bitcoin on Ecommerce is immense. It is mainly due to the fact that, there are no transaction fees for consumers on the currency. Moreover, the execution of Bitcoin is secure and low transaction fess required. In addition, transaction can be possible in areas where it is not possible for any option of payment. The potential growth of implementation of Bitcoin is huge and can revolutionize the use of online transaction. The introduction of Satoshi Nakamoto has been for many years now. But it is finally taking its prime position to be on the main stage. The revolutionary currency idea has been a slowly arrival in the United States. Many other countries have utilized the use of Bitcoin as a potential future payment system. A vacation home can be bought with the help of Bitcoin in Argentina. Dentists in Finland have approved the use of