what is bitcoin in cryptocurrency

By | July 15, 2019

First I have to tell you, bitcoin also a crypto currency.  Day by day the crypto currency term comes society in a rapid way. Everyone is interest about it.On the virtual world, on the internet we can see the Crypto currency , its only survival platform to crypto.  There are lot names for crypto ,some using digital currencies, internet and online currencies.

Bitcoin is the major crypto currency and it’s the king of the digital currencies and was born in 2009 by sathoshi nakamoto. But I have to say that still we unable to identify who is the sathoshi nakamoto.

Some says that sathoshi nakamoto is an organization, Created by the United States of America.

Bitcoin is decentralized currency including other crypto currencies too. Nobody unable to control any crypto currency , even the central bank.  Central bank does not like to legalize the crypto currency due to in control of the currency.

Bitcoin transaction verified by the nodes, for verification process the system gives reward to the person who deals with cryptography.  This whole process called bitcoin mining. Now a days mining is very difficult due to complexity.  Now super-fast computers needed for the generate Bitcoin.

 In block chain technology, nobody unable to hack or change the distributed ledger. Block chain is a public distributed ledger, everyone have records, if you need to change a record you must change the whole distributed ledger records. That’s almost impossible.

Now the bitcoin climbed up to 12000 usd. its was 20000 per btc on 2018 earlier. its a great result of blockchain technology. some said that bitcoin is a bubble , but we can not say it and we can not prove it.

There are whales in crypto currency world they pump and dump the crypto currencies , but the technology is forever. Most of the giant companies must need to adopt with Blockchian otherwise no survival.

Refer Bitcoin.org for more details

2 thoughts on “what is bitcoin in cryptocurrency

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