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By orbix • Publish in Crypto 101 • Dec 20,2024 • 4 min read
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Cosmos Network, also known as “Internet of Blockchain”
orbix
Dec 26,2023
2 min
What is Bitcoin (BTC)?
The beginning and the peak of Cryptocurrency is not exaggeration for Bitcoin (BTC). Digital asset trading and blockchain technology are spread across worldwide due to BTC which currently and always been cryptocurrency with the highest value. Bitcoin is the first Decentralized financial system in the world that was successful and very well received, with Proof of Work consensus to validate the and record transactions. Another unique characteristic of BTC is that there are only 21 million Bitcoin existing in the world and no more will be create.
Founder
Bitcoin was founded in 2009, developed by individuals or teams under the name of Satoshi Nakamoto whose identity is still unknown.
Feature BTC
The uniqueness of Bitcoin is the decentralization, meaning that the transaction of Bitcoin don’t require medium to process transactions like bank but the transaction are process on Blockchain with Proof of Work consensus to validate and record transactions. Every Bitcoin miner in the work validate every transaction as Validator and receive Bitcoin as reward. Every transaction that got record on blockchain is nearly impossible to be alter or destroy, and consider highly transparent since all user can review the recorded transaction.
Why BTC?
With the growth of Bitcoin value, some investors accept Bitcoin as digital gold due to its character of being limited in supply, and require high investment to receive. But unlike gold, Bitcoin is easier to obtain and much easier to transport and move.
BTC Utility
Currently Bitcoin are well received worldwide to the point that number of store accept BTC as mean of payment. Few countries even accept Bitcoin as the legal currency as payment, making Bitcoin have bigger role in the world economy.
BTC Roadmap
Various people say that Bitcoin will end and lose all its values number of times, but Bitcoin has proven itself and become well accepted currency in the world with rising value. Even financial institutions had accepted Bitcoin and developed Bitcoin ETF for investors. Bitcoin has changed the economy of the world and will definitely have a much bigger role as an alternate choice of payment in the future.
Disclaimer: Cryptocurrency involve high risks; investors may lose all investment money