Post
Topic
Board Bitcoin Discussion
Re: Bitcoin's strength is that nobody can crack it yet
by
HarleyQuinn9876
on 07/10/2018, 03:30:53 UTC
The power of bitcoin lies in the decentralized coin side (no third party intervention) so all bitcoin holders can manage it independently. Bitcoin also offers anonymous transactions, this can provide benefits from bitcoin holders who want to keep their data private.
Virtual currencies like Bitcoin, Litecoin, and ZenCash are built on "proof-of-work" algorithms that validate and create new blocks for Blockchain. This means that every computer in the blockchain network will act as a "book keeper" to ensure every transaction is transparent. This is a very secure system. To overcome it, you need to control more than half the network in the network or get the computing power to pass half of that node. It's hard to crack it