BITCOIN: PIONEERING DIGITAL CURRENCY||10% PAYOUT TO TRONFANCLUB.
Satoshi Nakamot in 2009 introduced Bitcoin, since then this digital currency has been the pioneering cryptocurrency heading the innovation and creating the foundation for a new system of digital finance.Bitcon because of it's advance new age technology and it's decentralized nature has created a new concept and view of money.
THE ORIGINATION OF BITCOIN
The journey of Bitcoin started in 2008 when Satoshi Nakamoto introduced A PEER-TO-PEER-ELECTRONIC CASH SYSTEM a famous white paper named Bitcoin, and one funny thing is that the person or group of persons who created this Bitcoin is pseudonymous meaning their identity still remains unknown.
This new age and groundbreaking cryptocurrency called Bitcoin introduced the concept called PROOF OF WORK, proof of work is a consensus algorithm which approves and validates transactions and also secure the networks.
Using this decentralized system where miners work consensually to improve the computing power of the system and validate transactions, this allows the Bitcoin block chain to able to ensure and secure transactions and earn the trust of its users.
HEADWAY FEATURES OF BITCOIN
One feature of Bitcoin is its limited value, Bitcoin has a protocol which allows for there to only ever be 21 million Bitcoin which is estimated to happen in the year 2140.
Bitcoin has also a halving protocol which is programmed to happen every time the Bitcoin block reaches TWO HUNDRED AND TEN THOUSAND then the numbers of new Bitcoin created and awarded to miners will be reduced by half.
All this protocols ensures the scarcity of Bitcoin and then in turn the scarcity prevents inflation and other pressures that arises from the surplus of this digital currency.
Another feature of this groundbreaking digital currency is the security and privacy or anomity it offers to its clients even though transactions are recorded publicly on the blockchain Bitcoin can still guarantee transactions privacy.
FINANCIAL INNOVATIONS
Bitcoin just like every other cryptocurrency if given a chance or without been held back by polices of governmental institutions have the potential to replace the traditional financial banking system, and having alot advantages over the traditional banking system.
Bitcoin can facilitate transactions all over the world, and reach places which are lacking the ability and opportunity to make use of the traditional baking system.
Bitcoin offer microtransactions with little or not transaction fee.
In conclusion the role Bitcoin has played in heading digital currency as a whole cannot be overpraised, through it's mysterious origin and new age and ground breaking technology it has left a mark and paved away for other cryptocurrencies and thus we can call it the G.O.A.T of all digital currency, the pioneer of digital currency
https://x.com/Wally43866789/status/1737859478585061523?s=20
Upvoted! Thank you for supporting witness @jswit.
Thanks for visiting my post
Cryptocurrency is a revolution but it is currently in the initial phase where things are getting ready and hopefully in next few years we are going to see much more happening in this space. Even though when hardly 5% of people are not even part of it that also brings a significant value to the Bitcoin so imagine when more people will be on boarded then the value is going to be multifold.
You are totally right. Thanks for visiting my post. Really appreciate
You have written so well on this topic. I appreciate your well detailed explanations. Thank you for sharing
Thank you for visiting my post
Very nice! I learned something unknown about Bitcoin mining!