What is Bitcoin ? Easy Learn By Nadcab

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Introduction of Bitcoin

Today we are going to talk about bitcoin, then all of you must have heard the name of bitcoin.Bitcoin is a decentralized digital currency, it is the first decentralized digital currency that is not operated by a central bank, and it is designed for computer network-based payments.

What is Bitcoin?

Bitcoin was developed by Satoshi Nakamoto, it is a kind of secret money that you can save in any wallet on the internet, with the help of this you can buy or sell anything on the internet like now rupees, dollars, Pound is all this money, in the same way, the same bitcoin is also a kind of money, the only difference is that you cannot see or touch it, it is a kind of virtual currency.We see that in 2008 the domain name.org was purchased and a white paper named Bitcoin Peer to Peer Electronic Cash System was uploaded it contains the theory and practice of a system for free digital currency from any organization or government control. The design was determined.

bitcoin

History of Bitcoin

In the following year, the paper described software ended and was publicly released on 9 January 2009, launching the bitcoin network. Now as defined by Satoshi Nakamoto in the White Paper, bitcoin is a purely peer-to-peer version of electronic cash, which sends online payments directly from one party to another.

Eliminates the mediator with the help of bitcoin blockchain Electronic transfer involves some intermediary (bank or financial institute inside) and when mediators have involved then the cost of the transaction is also to be paid but with the help of blockchain technology in bitcoin, the mediator has been removed.

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