How The Bitcoin Digital Currency Works

The Dark Web’s Bitcoin Digital Currency

Surely you have heard about the Deep and the Dark Web. The hidden areas of the Internet that hide many secrets, accessible through Tor’s Onion browser. Bitcoin is a digital currency used in this mysterious area. And thanks to it, it is possible to buy and sell various items there.

The Dark Web is an area of ​​difficult access where illegal transactions of all kinds usually are carring out. If you have ever heard of Darknet Markets, you will surely know what Silk Road is. This name has become synonymous with buying drugs on the Dark Web. According to the FBI, Silk Road generated around $ 1.2 trillion between 2011 and 2013. And although the sale of drugs is a real success on the Dark Web, it is also possible to buy or contract many other things, such as hacking services, weapons, passports, personal data, and even false identities using the data of victims of data theft.

How does it work?

World governments issue the money they need. Bitcoin works differently since it is a digital currency that does not print. The data center of this digital currency is decentralized and is not in control by a specific institution, so no one has complete control of the currency.

The Bitcoin network is based on a blockchain which is a shared public accounting. Each confirmed transaction includes in the blockchain. This is how the balance of the purses calculates, and the transactions are verified. The integrity and chronological order of the blockchain are encrypted, that is, mathematical tests carry out that provide high levels of security, to make it practically impossible for someone to spend the funds of another user’s purse or to be corrupted—this chain.

Bitcoin Digital Currency and Anonymity

Despite the fact that many illegal purchases are made paying with Bitcoins, anonymity is not fully guaranteed when using this digital currency. It is true that users can have many Bitcoin addresses and that no data such as their name or address is actually display. However, Bitcoin does keep the records of each transaction that carries out on the network through the “blockchain” tool. If you ever use an address of this currency, anyone can know how many Bitcoins are in it, and they just don’t know that they belong to you.

If you are ever curious to explore the Dark Web or interested in making a purchase using Bitcoin, you have to know that you are at great risk. Criminals abound in this hidden area of ​​the Internet. Protecting your information is key to avoid being a victim of these criminals. It is better not to risk because you could lose much more than you imagine.

There are some tools that let you know if your data may be compromised or at risk. They alert you if they find suspicious activity and help you create strategies to make your data safe.