Bitcoin (BTC)

The first cryptocurrency in existence is called Bitcoin. The first cryptocurrency based on blockchain technology was Bitcoin (BTC). Bitcoin, which was first created in 2009 by an unidentified developer under the alias Satoshi Nakamoto, is still the most used and traded cryptocurrency in existence. Bitcoin was designed to create a decentralised digital asset that does not require a central authority or single administrator, similar to the cryptocurrencies that came after it. An international group of programmers is still working to enhance Bitcoin.

What is  Bitcoin (BTC) ?

Introduction to cryptography for beginners

A new form of currency system that is secured and issued in a completely different method than conventional money was introduced to the world in 2009 when the Bitcoin protocol went online.

Fiat currencies, such as the US dollar or the yen issued by each nation's central bank, are supported by confidence in the established banking system. Every home government determines its own flexible monetary policy, which determines how any new money enters circulation. Fiat currencies are, in a way, supported by faith in the strength of each nation's economy and its armed forces.

On the other hand, all cryptocurrencies that were developed after the creation of Bitcoin are secured and produced utilising the scientific discipline known as "cryptography." 

In the end, Bitcoin relies on a predefined, computer-controlled monetary policy that cannot be altered by any one person, business, or government. Users of Bitcoin put their faith in the transparent set of rules and cryptography that allow it to run consistently regardless of market price or sentiment, rather than in the government or other institutions.

Crypto Currency

What is cryptography ?