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+---
+title: Basics of Bitcoin & Cyptocurrency
+---
+
+#### Bitcoin is a collection of concepts and technologies that form the basis of a digital money ecosystem, including: 
+- A decentralized peer to peer network (enabled by the _Bitcoin protocol_)
+- A public transaction ledger (_the blockchain_)
+- A decentralized mathematical and deterministic currency issuance mechanism (distributed mining and the  _“Proof of Work”_ concept)
+- A decentralized transaction verification system (transaction script)
+
+#### The Bitcoin system is based on decentralized trust, thus it heavily relies on cryptographic technologies, such as:
+- Cryptographic hash functions (i.e.SHA-256 and RIPEMD-160)
+- Public Key Cryptography (i.e. ECDSA–
+the Elliptic Curve Digital Signature Algorithm)
+
+
+
+#### Some Important Excerpts 
+
+1.  In Bitcoin, a transaction is a record informing the network of a transfer of bitcoins from one owner to another owner.
+    - You may think of a transaction as the equivalent of a single line in a notebook page
+    - You may think of a block as the equivalent of a page on taht notebook
+    - You may think of blockchain as the quivalent of the whole notebook
+    - All the users are able to read , write and get updated on that notebook.
+2. Ownership of bitcoins is established through digital keys, Bitcoin addresses, and digital signatures.
+3. _Digital Keys_ are crated and stored offline and consist of a mathematically-related Private-Public key-pair, created using the Elliptic Curve Signature Algorithm(_ECDSA_)
+4. The **Private key(Privkey)** is initially generated at random, and is kept secret at all times. It is used by the current owner of bitcoins to digitally sign a Bitcoin transaction, when he authorizes the transfer to the new user. A transaction 
+5. The **Public Key(Pubkey)** is generated from the Private Key using a one-way cryptpgraphic hash function. It is used by the owner to validate a transaction's digital signature.