Cryptocurrency, a digital or virtual currency that relies on encryption for security, has been making waves in the financial market for over a decade. This revolutionary technology has been led by Bitcoin, the first and most popular cryptocurrency.
Bitcoin is a decentralized digital currency, without a central bank or single administrator, that can be sent from user to user on the peer-to-peer bitcoin network without the need for intermediaries.
Blockchain, often associated with Bitcoin, is a distributed ledger enforced by a disparate network of computers. Blockchain is resistant to modification of the data and it can record transactions across many computers so that any involved record cannot be altered retroactively, without the alteration of all subsequent blocks.
Understanding these terms is foundational to comprehending the operations of cryptocurrencies. As such, whether for investment or technological interest, understanding Bitcoin and blockchain becomes indispensable. Read More
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