Uncategorized

The history of the emergence of cryptocurrencies

We can say that cryptocurrencies and near pay card began with bitcoin. It was in the article about him that the term “cryptographic currency” was first used. At the same time, cryptography itself was invented long before the appearance of these digital assets. Strictly speaking, this science is about four thousand years old. Cryptography in …

Continue Reading
Uncategorized

Bitcoin Power

Bitcoin has a huge and ever-increasing need for energy. Even though the size of the bitcoin network compared to banking transactions and the shift to credit cards is only a minor niche, it already consumes more electricity than the country of the Netherlands. First, even Google, with all its huge data centers around the world, …

Continue Reading
Uncategorized

Comparison: bitcoin vs fiat money

The bar that the current financial system meets is a 3,400x increase in transaction speed. The current way bitcoin works just won’t help. Currently, about 146 million transactions are made through bitcoin every year. Our current financial system, which includes bank transfers, credit card transactions, PayPal transfers and more, amounts to a whopping 500 billion …

Continue Reading
Uncategorized

How does bitcoin work?

As mentioned earlier, the way a cryptocurrency like bitcoin works is by maintaining a ledger of all transactions. But it’s not a piece of paper or a database, like a bank, all this data is encrypted, and then everyone gets a copy. Cryptocurrency mining is a process in which data is processed, encrypted and added …

Continue Reading
Uncategorized

What is bitcoin?

Bitcoin is a digital, encrypted currency that eliminates all intermediaries in transactions and works in a way that makes it all completely anonymous, secure, and unhackable (that is, in theory). The cryptocurrency was launched in January 2009 at the height of the economic crisis, when the US dollar was significantly depreciated and considered by many …

Continue Reading