Bitcoin is a new form of currency that has thus far made its home in the financial revolution since it was born in the year 2009. The name is given to this imaginary creator, who is the presumed author, Satoshi Nakamoto. This currency has been made a reality on a decentralized platform for using a completely new method in storing and transferring value without requiring any intermediary, such as banks, governments, or other institutions.
What is Bitcoin?
A digital currency is issued as a currency on a blockchain. The public ledger recording all transactions conducted by Bitcoin users is represented across a network of computers. No one can tamper with this decentralized nature because it has made it transparent, secure, and immutable.
It is not like the other currencies, such as the dollar, which the Federal Reserve issues and manages; it is an independent peer-to-peer network validating transactions. This non-centralized control is how people fanatically buy up Bitcoin, as these people all want a part of his ideal.
How Does Bitcoin Work?
Transactions in Bitcoins take place on the platform of the blockchain. The moment a transaction is requested by a user, the transaction will be broadcast or sent into the network, where "miners" will compete against one another in attempting to arrive at a solution for a complex mathematical puzzle. That process of mining solidifies the transaction and adds it to the blockchain, and its miners get paid with newly formed bitcoins, thus ensuring its steady supply.
Harga Bitcoin hanya dibatasi pada 21 juta, yang merupakan salah satu dari alasan terbentuknya untuk menyerupai sifat keterbatasan logam mulia seperti emas. Ketersediaan terbatas inilah yang membuat bitcoin berharga, karena umumnya harganya sesuai dengan permintaannya yang selalu lebih tinggi dari penawarannya.
Benefits of Bitcoin
1. Decentralization: For a user who has funds in bitcoins, they are fully independent regarding any central authority regarding that fund.
2. Transparency: Bitcoin transactions are stored on blockchain technology that can be accessed by
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