How does Bitcoin/Dogecoin work?
From a user perspective, Bitcoin/Dogecoin is nothing more than a mobile app or computer program that provides a personal Bitcoin/Dogecoin wallet and allows a user to send and receive bitcoins/dogecoin with them. This is how Bitcoin/Dogecoin works for most users.
Behind the scenes, the Bitcoin/Dogecoin network is sharing a public ledger called the “block chain”. This ledger contains every transaction ever processed, allowing a user’s computer to verify the validity of each transaction. The authenticity of each transaction is protected by digital signatures corresponding to the sending addresses, allowing all users to have full control over sending coins from their own Bitcoin/Dogecoin addresses. In addition, anyone can process transactions using the computing power of specialized hardware and earn a reward in coins for this service. This is often called “mining”. To learn more about Bitcoin/Dogecoin, you can consult the dedicated page and the original paper.
How difficult is it to make a Bitcoin/Dogecoin payment?
Bitcoin/Dogecoin payments are easier to make than debit or credit card purchases, and can be received without a merchant account. Payments are made from a wallet application, either on your computer or smartphone, by entering the recipient’s address, the payment amount, and pressing send. To make it easier to enter a recipient’s address, many wallets can obtain the address by scanning a QR code or touching two phones together with NFC technology.
Ok, but how does it work at Meltdown?
We will convert your total into Bitcoin/Dogecoin current exchange rate, we will generate a QR Code which will show you the total in US$ and Bitcoin/Dogecoin, you’ll then scan with QR Code with your Bitcoin/Dogecoin Wallet and VOILA! after confirmation, you’re set!
Is Bitcoin secure?
The Bitcoin/Dogecoin technology – the protocol and the cryptography – has a strong security track record, and the Bitcoin/Dogecoin network is probably the biggest distributed computing project in the world. Bitcoin/Dogecoin most common vulnerability is in user error. Bitcoin/Dogecoin wallet files that store the necessary private keys can be accidentally deleted, lost or stolen. This is pretty similar to physical cash stored in a digital form. Fortunately, users can employ sound security practices to protect their money or use service providers that offer good levels of security and insurance against theft or loss.