Bitcoin has become a discovery in the world of electronic currencies and payment systems, creating new rules in the market. The global payment system began to grow rapidly in 2017, capturing public attention. Let's talk in the text about main properties of bitcoin and differences from other money.
What is Bitcoin?
This is a peer-to-peer (equal for all participants) payment system that uses cryptographic methods for functioning and protection. They provide confidentiality to the user, but the system itself does not hide information about transactions among internal addresses. All electronic payments are irreversible and go through without intermediaries.
Bitcoin is self-contained in nature - the system does not have a centralized governance. Since its first release in 2009, it has gone through ups and downs, but continues to exist, fixing itself in the minds of people as a symbol of cryptocurrency. Having reached the rate of 19 thousand dollars per unit in the winter of 2017, the currency fell sharply in value. 2019 was the beginning of stability - until May 2020, the currency did not fall below $ 4500 per unit.
System Features
- An independent structure without a vertical: all participants are equal.
- Wallets and transfers are protected from blocking and freezing.
- Anonymity and availability for all members.
- There is no need to register, link to a person, provide any data.
- Stability - the release of the cryptocurrency is fixed and has a strict framework. By 2140, it is planned to reach 21 million units. Almost 90% of this amount has already been produced.
- Storage is possible on any device: from an online wallet to a special device. The volume of the stored amount is divided up to 0.00000001 BTC.
Bitcoin deserves special attention. Articles, notes and even books are regularly published in different languages. In Russia, the book "Digital Gold", about idealists and businessmen reinventing money, gained particular popularity.
Digital Age
Whatever analysts and experts say, the digital world continues to destroy the usual notions of money and its impact on society. Bitcoin has been an important milestone in this change for everyone. Open source and lack of control backed by currency are the principles of the digital age.
