The inventor of the first Cryptocurrency- Power Of Clarity Review/Bitcoin, Satoshi Nakamoto, never ever thought that his invention will dawn the era of a totally new economy. He was able to solve the puzzle, of what others were not. All others tried hard to develop a "Digital Cash" which was Peer-to-Peer network and was decentralized. In a decentralized system, the solution of tracking or recording the double spending of the unit is not possible. Also, it requires each member to have the details of all the transactions with each and every entry for any future transaction. That is where Satoshi succeeded and others failed. He gave birth to - Bitcoin. Today there are other cryptocurrencies like- GDC Coin, Ethereum, Ripple, Litecoin, Monero and much more.
What makes Cryptocurrency so attractive that they are known to create an era? Well, you must first understand the attributes it has, in that case.
The transactions happening are superbly connected with a global network of computers and are completed within split seconds. The confirmations hardly take few minutes, without any limitation of physical geographical barriers.Each transaction, in the Cryptocurrency system, is done by the private key which is unique to the user and consists of strong cryptography and huge numbers. Only the owner of the key can break the scheme. Hence it's super secured!
1 mesaj • 1. sayfa (Toplam 1 sayfa)