What is Bitcoin ?

Bitcoin is the numeric value used over the internet as payment worldwide. Its all started back in 2009 with an unknown identity Satoshi Nakamoto.
This invention came into the picture after Lehman Brothers collapse and Unknown identity create a peer-to-peer transaction system in which no middleman is included & one can easily transfer his/her fund direct to the payee using this system which runs on blockchain technology.

 

Bitcoin is a digital token which is divisible up to 8 decimal places (1.00000000 BTC) and symbol used for bitcoin is “BTC”. This is decentralized and open source available for everyone as like internet.

Why Bitcoin is better than fiat currency ?

In fiat currency you do not know how much notes/coins going to print by the regulated institutions (RBI in India) but in bitcoin its already knows that 21 million in total bitcoin well be generated and as it is very limited like gold/diamond.

This 21 million bitcoin are mined on the server and new bitcoins are generated as its transaction stored on blockchain and every block holds the information of some transaction and after solving a block the miner/developer/programmer/computer engineer get reward in form of digital token called bitcoin and new bitcoin came in to the picture and circulated over the blockchain.

Bitcoin is a revolution on the internet as the price of this digital token increases as time passes. It was started in 2009 and that time 1 bitcoin value was US .005$ and now 1 bitcoin is of US 18000$ it’s just unbelievable but it’s happened and there are chances that 1 bitcoin price will touch US 100000$ soon in coming years or months you never know or it’s just reversed to US .001$.

for more just visit cryptopedia & stay tuned 🙂