Quote from: akiraminai on December 12, 2017, 01:25:15 PM

I'm wondering why bitcoin was made if there are too many currencies in each country, why would anyone add or make a type of currency in the internet? For easier and faster transactions or so ?

Bitcoin is a consensus network that allows new payment systems and new money entirely digital. Bitcoin is the first decentralized peer-to-peer payment network that is fully controlled by its users without central or intermediary authority. From the user's point of view, Bitcoin is similar to money in the internet world. Bitcoin can also be seen as the most prominent recording system currently available.

Bitcoin is the first implementation of a concept called "cryptocurrency", first described in 1998 by Wei Dai on the cypherpunks mailing list, showing the idea of a new form of money that uses cryptography to control manufacture and transactions, instead of using centralized authority. The first Bitcoin concept and proof of concept was published in 2009 on a cryptographic mailing list by Satoshi Nakamoto. Satoshi left the project at the end of 2010 without much to say about him. The Bitcoin community is growing rapidly as many developers work at Bitcoin.

Satoshi's anonymity often raises false concerns, largely due to a misunderstanding of the nature of Bitcoins-based open source. BItcoin protocols and software are published and developers from around the world can review the code or create their own modified version of the Bitcoin software. Like the current developer, Satoshi's influence is limited to some of the changes he created and adopted by other developers, and he does not control Bitcoin. Thus, finding the identity of the inventor Bitcoin is now like finding the identity of the inventor of the paper

Mwkakul

Posts

Merits