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Showing posts from February, 2020

Bitcoin Simplified!

What Is Bitcoin? Bitcoin is a digital currency created in January 2009. a designed and written cryptography published  on a whitepaper by the mysterious anonymous group or person called Satoshi Nakamoto. whose true identity is yet to be verified. Bitcoin is a decentralized payment gateway which offers the promise of lower transaction fees than various traditional payment mechanisms and is operated by a decentralized authority, unlike government-issued currencies. hence the value is determined by the various individuals around the globe who transact with it. Bitcoin An Electronic Money? There are no physical bitcoins, only balances kept on a public ledger in the cloud, that – along with all Bitcoin transactions – is verified by a massive amount of computing power conducted by individuals called miners. Bitcoin is not issued or backed by any banks or governments, Despite it not being a legal tender, Bitcoin charts high on popularity, and has triggered the launch of hundred