Day: December 20, 2019

Why Does the World Need Bitcoin?

Bitcoin, a first and most trusted cryptocurrency in a world, also known as digital currency, invented by Satoshi Nakamoto in 2009, uses rules of cryptography for regulation and generation of units of currency. It falls under the scope of cryptocurrency and is the first and most valuable. It offers the lower transaction fee in comparison to other online payment methods. Decentralized operation makes it convenient for buyers and suppliers instead of currencies that are issued by government. this cryptocurrency is used by private and public keys, that are formed with mathematical encrypted algorithm based numbers and letters. This key similar to ATM key is used for transaction and transmission. These transactions can be done peer-to-peer and instant. The independent companies and individuals, owning computing power can participate in Bitcoin network, popularly called Mining. It motivates the suppliers and buyers with rewards. The total supply of bitcoin is 21 million with periodic declining rate that is enforced by decentralized authority. But still the question remains same, “Why does the world need Bitcoin?” The ones who have …