What Is Bitcoin
What Is Bitcoin
Before we get into this article I want to let y'all know that this is a rewrite of a previous article I wrote right around when I was first starting off blogging. I decide to run it through a article rewriter because I was interested with how it would come out. I did nothing else to it but run it through Grammarly so with that being said let's get into this article.
Bitcoin was created by a developer with the pseudo name satoshi nakamoto. this is a pseudonym and it is speculated that there is a Japanese man behind the name and that he is in his mid 30s. In today's blog post, I'm going to be exploring what bitcoin is in more detail. I'll be giving you a better understanding of what makes bitcoin tick. With that said, let's go over the basics. First, who created bitcoin? The truth is, no one really knows. Bitcoin was created under the name Satoshi Nakamoto. This is a pseudonym, and it is speculated that there is a Japanese man behind the name. He is supposedly in his mid-30s.There are many theories about who the creator of Bitcoin is, but one thing we can be sure about is that the creator's pseudonym is Satoshi Nakamoto. This makes it ironic that the creator of the biggest anonymous cryptocurrency is them self not known. Let's now dig into how Bitcoin really operates and functions.
Why Was Bitcoin Made
In order to understand the purpose of cryptocurrencies, we need to understand what bitcoin was designed for from the start. Bitcoin was designed to have anonymity when exchanging cryptocurrencies, no matter the exchange or deal. This is what originally made bitcoin so popular, and it was believed to be the next revolutionary tech in finances. This was the main point of cryptos until more coins with utility came out, like Ethereum. There are already many coins that don't care about privacy, so it's likely that even more will in the future. However, some coins still consider privacy to be an important feature, so it won't be completely left behind.
How Bitcoin works
a blockchain is a type of software that a digital currency uses to validate the coins and to track transactions on the network. Miners secure the blockchain by utilizing mining rigs, GPUs, or Pc's(bitcoin cant normally be mined on a pc at profitable rates). They do this by finishing numerical equations that lead to a block being mined when that happens the bitcoin is either conveyed to the pools where miners collaborate with each other to mine bitcoin. Or in the event that you are solo mining, everything goes to you.
What is the future of Bitcoin
I believe bitcoin goes to be phased out by different coins that have far more use. however I truly believe that bitcoin will act as a store of value similar to that of gold when it backed the dollar. I think that after the crash rebounds bitcoin can in all probability not increase to a lot of any dramatically thanks to different coins having any share within the request.
My Final Words
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