Here we explain Bitcoin, the online peer-to-peer currency. We cover the protocol, mining, blockchain and important details without heavy math or technical background needed.

We describe the essence of blockchain technology and how it is uniquely poised to disrupt swaths of industries. In particular, blockchain allows untrusting parties to perform validated transactions between each other. The burden of validation is distributed among the distributed and decentralized network that underlies blockchain technology. As a result, control is more representative of network participants, eliminating the need for a centralized authority or company. Despite its promise as a technology disruptor, the transaction time and fees limit its practical use and application. New innovations in blockchain technology addressing these limitations will be discussed