S4B Crypto Contest - Season 2

Source

Bitcoin was established under satoshi nakamoto by an unknown person or group of people. It is still uncertain who nakamoto is and whether it represents a single person or a group of individuals. The white paper "Bitcoin" was released on 31st October 2008 presented the idea behind bitcoin. This wite paper described the idea and technical aspects of bitcoin including it's decentralized structure application of blockchain technology as well as proof of work mechanism for transaction securities.The first block called the Genesis Block was mined on 3rd of January 2009 marking the official start of the Bitcoin network. This was the first cryptocurrency to be created and the start of the Bitcoin blockchain. so many crypto projects has been working and established but bitcoin is the most effective and useful.

Due to their decentralized system crypto currencies are not governed by a single financial organization or government. Rather of relying on a central authority it function through distributed ledger technology commonly blockchain, which is managed by a network of participants called nodes. As cryptocurrencies are decentralized they allows peer-to-peer transactions and do help with the need for middlemen like banks.it is one of its main advantages.

Government has no direct influence over the underlying networks or the issuing of cryptocurrencies but even though they may impose laws on exchanges and cryptocurrencies that operate within their borders.

• crypto markets are extremely volatile, they experience sudden and sharp changes in prices.
• if owner lost his Private keys then they can lost their funds permanently. They can loss access to funds.
• high risk of bugs, hacks and other technical issues
• because of its decentralized nature more chances of frauds and scams.

I'll invite @noortatima @tripple-e and @patjewell to participate in this contest.