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This video on Bitcoin Explained in 5 Minuteswill help you understand what is Bitcoin, how it came into existence and how it is believed to be a perfect replacement of current financial system around the world. This video will give you an Introduction to Bitcoin, its concepts and will help you understand how Bitcoin Cryptocurrency is used for making transactions on Blockchain Technology. It will also give you an idea over how Bitcoin is different from other centralized banks and our fiat currency. At the end of this video, all your questions related to bitcoin will be cleared.

00:00 Introduction To Bitcoin
00:22 Drawbacks of Centralized Financial Institutions
01:28 What Is Bitcoin?
02:10 Benefits of Bitcoin
03:08 Working of Bitcoin
03:36 Example of People Using Bitcoin
03:58 Quiz
04:30 Is it safe to use Bitcoin?

What Is Bitcoin?
Bitcoin is a cryptocurrency that enables transparent and decentralized peer-to-peer transactions taking place on its Blockchain Technology. Bitcoin is designed to be an alternative to national currencies and intends only to be a medium of exchange and value storage. It comprises features like a public ledger, immutability, and high transparency, making it a great platform. It uses the SHA256 hashing algorithm for mining its block in the blockchain network.

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➡️About Professional Certificate Program In Blockchain
The blockchain certification program helps the learners start from the fundamentals and then cover all the technical and functional aspects needed to build any blockchain solution using the best tools and techniques in the industry. In this program, they will build smart contracts, and bitcoin wallets, create transactions, fabricode, and more.

✅Key Features
- Program completion certificate from IIT Kanpur and Simplilearn
- Masterclasses from IIT Kanpur faculty
- Seamless access to integrated labs on Simplilearn’s LMS
- Get hands-on experience with a capstone on industry-relevant use cases
- Build skills to become job-ready and advance your career
- Simplilearn's JobAssist helps you get noticed by top hiring companies

✅Skills Required
- Cryptography and Cryptocurrency
- Bitcoin
- Distributed ledger
- Hyperledger
- Ethereum Blockchain
- Consensus
- &more

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