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Discover Bitcoin, the cryptocurrency that has the finance worldbuzzing Bitcoin is arguably one of the biggest developments in financesince the advent of fiat currency. With UnderstandingBitcoin, expert author Pedro Franco provides financeprofessionals with a complete technical guide and resource to thecryptography, engineering and economic development of Bitcoin andother cryptocurrencies. This comprehensive, yet accessible workfully explores the supporting economic realities and technologicaladvances of Bitcoin, and presents positive and negative argumentsfrom various economic schools regarding its continuedviability. This authoritative text provides a step-by-step description ofhow Bitcoin works, starting with public key cryptography and movingon to explain transaction processing, the blockchain and miningtechnologies. This vital resource reviews Bitcoin from the broaderperspective of digital currencies and explores historical attemptsat cryptographic currencies. Bitcoin is, after all, not just adigital currency; it's a modern approach to the secure transfer ofvalue using cryptography. This book is a detailed guide to what itis, how it works, and how it just may jumpstart a change in the waydigital value changes hands. Understand how Bitcoin works, and the technology behind it Delve into the economics of Bitcoin, and its impact on thefinancial industry Discover alt-coins and other available cryptocurrencies Explore the ideas behind Bitcoin 2.0 technologies Learn transaction protocols, micropayment channels, atomiccross-chain trading, and more Bitcoin challenges the basic assumption under which the currentfinancial system rests: that currencies are issued by centralgovernments, and their supply is managed by central banks. To fullyunderstand this revolutionary technology, UnderstandingBitcoin is a uniquely complete, reader-friendly guide.