The Birth of Bitcoin and the Rise of Cryptocurrency
Bitcoin’s birthdate is considered to be October 31, 2008, when the now-famous whitepaper, "Bitcoin: A Peer-to-Peer Electronic Cash System," was published by Satoshi Nakamoto. In this paper, Nakamoto introduced groundbreaking concepts such as digital signature protection, payments without third-party involvement, blockchain technology, and the vision of a digital currency.
Bitcoin and Altcoins
Bitcoin is the first cryptocurrency, but it’s far from the only one. Every cryptocurrency that came after Bitcoin is referred to as an altcoin. Most cryptocurrencies, including Bitcoin and altcoins, offer pseudonymity—meaning all transactions between addresses are visible on the blockchain, but the identities of the address owners remain hidden.
What is Cryptocurrency?
Cryptocurrency is a form of digital currency that operates on a decentralized payment system, which functions entirely in automatic mode. The system ensures the accounting and management of the currency without a central authority. One key feature of cryptocurrency is that its transfers are irreversible—once a transaction is made, no one can cancel, block, or force it without access to the private key.Stay tuned for more insights into the world of crypto!
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