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http://bit.ly/1tLkw8W , http://bit.ly/1oWiI7R - After being featured in iCovert Network, the news about the first electronic currency Bitcoin robot generating a revenue of $34,175 has spread all over the world. Bitcoin is the world's first currency robot to use the technology called cypto-currency, which allows people to transfer money, accept payments, repay debts and make transactions without the presence of banks and other financial institutions.
The first implementation of Bitcoin robot started in 2009. The specification and proofs of concept was actually published in a cryptography mailing list. However, the name of the creator has never been revealed. In 2010, the number of developers working with the project increased.
The buzz continued until the media discovered the controversial project, which resulted to massive buy rally. The technology slowed down in 2011 but was again rebuilt by Bitcoin Foundation in September 27, 2012. Today, Bitcoin robot is quickly gaining popularity with more and more users joining every day.
Basically, the robot can transfer Bitcoins through computers and smartphones. With the use of open-source cryptographic protocol, Bitcoin robot can connect to the central authority through internet-based network for confirming transactions. In the modern day, Bitcoin is accepted by stock market, merchants and some individuals around the globe.
Basic Features of Bitcoin Network
- Capable of transferring between arbitrary nodes on the network
- Capable of doing irreversible transaction
- Capable of using block chain to prevent double spending
- Capable of broadcasting transactions within seconds
- Capable of processing money issuance
- Capable of receiving transaction whether the device is turned on or off
As of April 2013, Bitcoin Network has been equipped and yielded with security features. The bugs and logs on the data have been also fixed in the same year. As of now, this digital currency software enables:
- Worldwide payments
- Almost no processing fees
- Instant peer-to-peer transactions
- Has limit about 21 million Bitcoins
- Up to 8 decimal places and approximately 21X10 to the 14th power currency units
- Millions of USD volume traded on daily basis
- More than 232,000 long block chains
Bitcoin is now the hottest currency software in the market. Although there were financial institutions trying to ban this software, the funny thing is that nobody owns it.
Today, software experts and developers are working and looking forward to coming up with the perfect tool that will generate millions of Bitcoins every single day.
In the event this software works in the next few years to come, people will no longer find hassles on making transaction with banks and other financial firms.
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