Bitcoin was created by the mysterious Satoshi Nakamoto, and has increasingly risen in popularity such that, less than 15 years later, it is no longer a novelty and cannot be written off, or ignored as such! This story explains how Bitcoin, once worth almost nothing (10,000 Bitcoin for pizza anyone?), became that force and how it’s now shaking the foundations of institutional finance around the world!
What Is Cryptocurrency?
Cryptocurrencies are a relatively new type of digital currency (or virtual currency) that operates totally decentralized and independently from things like governments or banks. Instead, they use complex math and encryption techniques to keep everything secure. Unlike regular money that’s issued by central banks, cryptocurrencies work on peer-to-peer networks spread across computers all over the world. Some well-known cryptocurrencies include Bitcoin, Ethereum and Litecoin.
Cryptocurrency is a fully digital, With normal currency, banks and governments control everything – they’re the central authority. But cryptocurrencies work differently! Instead of one central group calling all the... More money that operates independently from central authorities (i.e., banks, government). Instead of being controlled by governments or banks, cryptocurrencies rely on Peer-to-Peer Networks (P2P) networks allow people to connect with each other directly for sharing things - without going through a middleman. More and encryption to verify transactions and generate currency units.