DIVING THROUH THE WORLD OF BITCOIN $BTC Bitcoin is said to be the first most well known currency ...DIVING THROUH THE WORLD OF BITCOIN $BTC Bitcoin is said to be the first most well known currency ...
The network for creativity
Join 1.25M professional creatives like you
Connect with clients, get discovered, and run your business 100% commission-free
Creatives on Contra have earned over $150M and we are just getting started
Back to feedPost
Olamide's avatar
Olamide Daniel
• Aug 27
DIVING THROUH THE WORLD OF BITCOIN $BTC
Bitcoin is said to be the first most well known currency , a type of digital money that runs on a blockchain and doesn't relies on banks or government
Bitcoin was created for one purpose only which is as a store of value, it was the first ever to be created in the year 2009 and it was designed to record and verify bitcoin transactions only.
KEY FEATURES IN BITCOIN
(a) DECENTRALZED: This means that it uses different forms of computers called nodes in codes and algorithms to store files instead of the government keeping and watching it
(b) SECURE AND TRANSPARENT: Every transactions is public and verified by a network of miners before been added to the chain.
(c) PROOF OF WORK (PoW): Bitcoin uses a system called proof of work whereby miners solve complex math problems to validate transactions and add new blocks. This process keeps the network secure but also uses a lot of energy.
(d) IMMUTABLE: This simple means that once a transaction is made it can't be changed or deleted
Article WritingContent WritingChatGPT
Post image
Back to feed
The network for creativity
Join 1.25M professional creatives like you
Connect with clients, get discovered, and run your business 100% commission-free
Creatives on Contra have earned over $150M and we are just getting started