It’s another journey we are going to take tonight. Let me introduce you to Bitcoin. In this introduction journey, we will put the focus on getting you ready for work with Bitcoin addresses.
I will spare you the lengthy description of what Bitcoin can do, and be, and what it is not or will never be. Instead, following is a description from the initial research paper related to Bitcoin, as published by Satoshi Nakamoto:
What is needed is an electronic payment system based on cryptographic proof instead of trust, allowing any two willing parties to transact directly with each other without the need for a trusted third party.
Satoshi Nakamoto, January 2009
In other words, Bitcoin aims to be a software system enabling people to conduct peer-to-peer online transactions without relying payment companies or banks.
In this article, we are going to have a look at the out-of-the-box financial possibilities of Bitcoin. Follow this link if you wish to see the full source code for this article now already.