Questions:

(1) WHAT IS CRYPTOCURRENCY AND HOW YOU WOULD LIKE TO SEE CRYPTOCURRENCY IN THE FEATURE?

OR

(2) WHAT IS BITCOIN AND WHAT WAS THE AIM BEHIND BITCOIN INVENTION? IS CRYPTOCURRENCY GOOD FOR A BUSINESS TO ACCEPT AS PAYMENT? WHY?

OR

(3) WHAT IS PUBLIC CHAIN AND WHAT WILL BE THE ADVANTAGES AND DISADVANTAGES OF PUBLIC CHAIN?

Source

What is Bitcoin

What was the aim behind bitcoin invention?

Is Cryptocurrency Good For A Business To Accept As Payment? Why?

Advantages of using Cryptocurrency for Business payment

• No third Party:- The problem of having a third party approving transaction has been completely trashed in the crypto currency world as your transaction does not need to pass authentication by any bank worker before it can be transferred.

• 247 working system:- Issues of network problem is hardly experience in place like this, note that in our contemporary ATM it's usually written 247 but most of the services are not available within these periods started but in the case of transacting with bitcoin you can make this transactions at any point in time.

• No issues of system failure:- Most times you will perform a transaction and it will take a whole lots of time to get to the receiver due to system failure or malfunction. Now in cases where someone may need this transaction fast enough to serve a life, our contemporary banks may not be helpful.

• Low transaction Fees:- Cost of transaction here has reduced drastically as there are no much fees charges here. In our banks today any transaction has a charge attached to it. But while dealing with crypto currency you can perform more than 100 transaction at once with just a charge for just one transaction incurred.

• Transparency and security:- This type of transaction are very secured and transparent enough. It can not be easily hacked and no one will claim he didn't receive the asset sent to him is it can be seen by almost everyone who has access to the blockchain.

Limitations of using Cryptocurrency for Business payment

• Price instability:- The price of asset such as bitcoin is never stable and hence using it for payment may almost be impossible. The prices rises and fails and so if you have accepted to pay your workers 1 BTC every month, when the price is $3500, and the price eventually increases or reduces it becomes a problem to make the payment.

• illegal use of currency:- It may be used illegally if accepted for payment purposes. People who get them selves involve in drug dealing as well as child trafficking can get their transaction done without any trace of what the have done

• Frudlent act won't be traced:- Just as I have mentioned above crimes won't be traced to the people who carried out the act. It will also promote theft as it is our country today.

CONCLUSION

Regards to professor;
@stream4u