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4 Frequently Asked Questions about Bitcoin However, and despite extensive discussions about Bitcoins and their effects on the economy, we all have many unanswered questions about the operation of the world's most famous cryptocurrency, that's why from Crypt Trend we bring you this guide with the 7 most frequently asked questions about Bitcoin. www.cryptoknowmics.com
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What is Bitcoin? Bitcoin is a cryptocurrency, was created in 2009, and is the first of a series of cryptocurrencies that have been born since then, and that make up the first financial assets in world history to be driven by Blockchain technology.
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What is a cryptocurrency? A cryptocurrency is a digital currency that is housed in a chain of blocks or Blockchain, which guarantees the transparency of all operations carried out with it while protecting the privacy and security of users thanks to the cryptographic technology that backs up the data.
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Who created Bitcoin? The Bitcoin was designed by Satoshi Nakamoto, the pseudonym behind which the identity of the creator of the cryptocurrency is hidden, and was launched in 2009 with the mining of the Genesis block, the first block in the Bitcoin chain.
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What is Bitcoin mining?
Therefore, those users who wish to, lend part of their computing power for the realization of transactions and its fixation in the Blockchain, in exchange for which they receive a reward in Bitcoins by the system. This process of lending computing power and receiving a reward is known as bitcoin mining.
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Conclusion
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After the release of Bitcoin, new crypto coins have been born that have enriched the world of crypto actives. Some of them try to compete directly with Bitcoin to become a currency like any other, while others like Ethereum or EOS take advantage of Blockchain technology to offer a platform for the celebration of intelligent contracts and other services of this style.
Source https://www.cryptoknowmics.com/news/7-frequently-asked-questions-about-bitcoin
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