Who is the owner of Bitcoin? - Just News

Hi, their
Today we are going to talk about who is the owner of Bitcoin?.
The answer is, how much Bitcoin are you holding? You are the owner of that amount. Now understand how? & why?
The answer why is Bitcoin works on Blockchain

Now, we need to understand Blockchain & wallet than can understand why every holder is an owner of Bitcoin


Blockchain
A blockchain is a chain of blocks & A block is data stored in a memory. Data about anything & every block connected to all blocks in Blockchain The last block has all information about every block from started first to the last one.
We can easily understand Blockchain like suppose there is a dairy it has Ten pages & every page has written different information like the first page has the name of fruits, the second one has the name of books plus the name of fruits, & the third one has written the name of foods, books, & fruits and this so on the tenth page has all information first to ten pages.


Cryptocurrency
The transaction data is stored "in blocks of Blockchain encrypted with some technique with a combination of alphabet & numbers" then a simple person cannot understand what it has stored & this method called cryptography that's why people call Cryptocurrency because it's encrypted.


Nodes
Nodes are computers that have stored data of blocks to support Blockchain. A chain is "connected with many nodes. If some nodes are down, "chain" still works & when nodes will live to fetch the latest data and update the chain".


Wallet
Every Bitcoin holder has a wallet it's encrypted with cryptography. No one can access another wallet.


Important point: Data stored in the Blockchain cannot be changed

Now, understand how every holder is the owner of Bitcoin, "If someone sent some Bitcoin to another Wallet. he will lose access to sent Coins because No one can access others wallets & Blockchain data can't change.

"I hope you all understand about ownership of Bitcoin."