Everyone seems to be talking about Bitcoin, but it remains difficult to understand the nuts and bolts of what is really going on. A helpful way to understand it is to consider that it is made up of three parts: the blockchain, the mining network, and wallets. If you want a full explanation of each part check out this great article by Ben Everard.
One of the amazing things about Bitcoin as a currency is that every single transaction is recorded, and no exchange, sale or purchase is “off the books”. The identity of the parties involved is kept private, but every single exchange is recorded in the blockchain, which is a list of all the transactions that have ever occurred.
In this record book (called the blockchain) each transaction has a transaction ID, which is composed 64 characters. So when people are buying, selling, or transferring bitcoin, everyone across the world can see a real-time feed of the transactions and the transaction IDs.
How Money Moves is a real-time visualization showing the transaction IDs of the money moving around the bitcoin network. When activity picks up you see a flurry of letters and numbers, representing transaction IDs and money moving all around the world, but it is something best experienced by watching so quit reading and go check it out!
How Money Moves was sponsored by BlockSign, a blockchain service for legally signing any document, contract, or agreement. Learn more at https://blocksign.com.
