Cryptocurrency Blog

Bitcoin is the first successful cryptocurrency in history, and it became successful because of the many positive merits not found in traditional or fiat currency (this is your country’s national currency). In this article, you’ll find out about five advantages Bitcoin has over fiat currency. 1 – Bitcoin Is Decentralized Unlike fiat currency, Bitcoin is not controlled by any bank or government. No single entity controls or regulates the Bitcoin network, not even its founder Satoshi Nakamoto. Without a controlling entity, bitcoins are technically inflation-proof since no one can devalue its price by manipulating its supply. Only 21 million bitcoins will ever be mined or created, unlike fiat currency which is printed when the government sees fit to print more money.   2 – Extremely Easy To Use Opening bank accounts is not a simple thing to do. You’d have to go to your bank, wait in line, fill out forms, submit your IDs, etc. It’s a time-consuming process. But with Bitcoin, all you nee...

In November 2008, Satoshi Nakamoto published the Bitcoin White Paper that began “ Commerce on the Internet has come to rely almost exclusively on financial institutions serving as trusted third parties to process electronic payments .” The solution, as Nakamoto saw it, was an electronic cash system “based on cryptographic proof instead of trust, allowing any two willing parties to transact directly with each other without the need for a trusted third party.” The 8-page white paper then went on to explain the electronic payment system that could serve this purpose. The coins would be made from digital signatures that would be “ spent ” on a peer-to-peer network. This is how bitcoin was created. Who was this genius behind the concept of bitcoin? You would think that the identity of Satoshi Nakamoto would be obvious. After all, the bitcoin idea has blossomed into a massive financial game changer. The search for Nakamoto has been on since he disappeared off the grid in 201...