🚨🚨 Which crypto-currencies will never be hacked or hacking impossible?
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why this crypto are strong network?
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Bitcoin, the pioneering cryptocurrency created by the pseudonymous Satoshi Nakamoto, has been a subject of fascination, controversy, and investment since its inception in 2009.
Decentralized Network:
Bitcoin operates on a decentralized network of computers (nodes) worldwide. These nodes validate and record transactions on a public ledger known as the blockchain. Unlike traditional centralized systems, there is no single point of failure in Bitcoin, making it incredibly resilient to hacking attempts.
Blockchain Technology:
At the heart of Bitcoin's security is its underlying blockchain technology. The blockchain is an immutable, distributed ledger that records all transactions in chronological order. Once a transaction is added to a block and confirmed by the network, it is virtually impossible to alter or delete. This transparency and immutability create a high level of trust.
Proof of Work (PoW) Consensus:
Bitcoin's consensus algorithm, PoW, requires network participants (miners) to solve complex mathematical puzzles to validate transactions and create new blocks. This energy-intensive process ensures the network's security. Any malicious attempt to alter the blockchain would require an unfeasible amount of computational power.
Cryptography:
Bitcoin relies on advanced cryptographic techniques to secure transactions and wallets. Public and private keys provide a robust layer of protection. Private keys, which are known only to the wallet owner, are used to sign transactions, ensuring that only the legitimate owner can authorize and initiate transfers.
Resilience to 51% Attacks:
While it is theoretically possible for a single entity to gain control of over 50% of the network's mining power and manipulate it, such an attack is increasingly challenging as the network grows. Bitcoin's extensive global mining network makes it more secure against 51% attacks.
