While the true identity of Satoshi Nakamoto has never been revealed, still the fact remains that this is the name of the person or group of persons who invented bitcoin 10 years ago. He published bitcoin’s white paper in November 2008 via the Cryptography mailing list and released the first version of the bitcoin client software in 2009. Nakamoto initially published the software under the name of Bitcoin but was later changed to Bitcoin core to separate its identity from the bitcoin network. Bitcoin core software is free and open-sourced that serves as a bitcoin node, the set that forms the bitcoin network. To fully verify payments, it provides a bitcoin wallet to the users.
The wallet is included by default and is used to transfer funds, which means it allows the sending and receiving of bitcoins. The software itself validates the entire blockchain, which includes all transactions. Anybody can download the software for free and once installed, the user can already send, and receive payments using bitcoins or other cryptocurrencies. No one can control you or the software as there are no gatekeepers or third party financial institutions governing it. It’s purely decentralized and a peer-to-peer network system where transactions are directly done by the users without any intermediaries.
Following this example of Satoshi Nakamoto, the developers of the Virie Market have revolutionized the technology and provided client software that is also free to download and use. Just like the bitcoin network, the Virie Market is also a purely decentralized and peer-to-peer network without any intermediaries. The software is ready to download anytime, and once installed, anybody can start using it to exchange anything for anything of value, from whichever part of the world. What’s even more revolutionary about it is that it is not just dedicated to the exchange of cryptocurrencies like the bitcoin core. The Virie Market is essentially a virtual marketplace where all forms of trading can be done, such as trading of goods and services, markets, any types of commercial enterprises, and of course, currencies, both fiat, and cryptocurrencies. Transactions are processed within 5 to 15 minutes only. All of these can be done as soon as the software has been downloaded and installed. The Virie Market source code is open to all users, including those who are not geeks, as it is designed to serve everyone from any part of the world.
The developers of the Virie Market have created a platform that makes use of approaches and methodologies targeting to increase reliability with flexible and secure architecture. The software has three major components: daemon, miner, and wallet. The daemon is the main component and is often called as the node. It connects to the network, validates and processes exchanges of new blocks and transactions, and upholds the blockchain database. The miner is the one that performs mining tasks and produces new blocks. The wallet is the one that stores the users’ private keys and provides the interface for creating transactions. All of these components have separate functions and interconnects to make it easier for the user to navigate and use the application. Taking the example from Satoshi Nakamoto’s client software, a revolutionized software technology has been born through the Virie Market.