Announcement

Collapse
No announcement yet.

Difference of Bitcoin from traditional currencies

Collapse
X
  • Filter
  • Time
  • Show
Clear All
new posts

  • Difference of Bitcoin from traditional currencies

    Decentralisation

    Every currency in the world, apart from cryptocurrencies, is governed by some kind of authority. Every transaction goes through a bank, where people are charged enormous fees, and it normally takes a long time for money to reach the recipient.

    Bitcoin, on the other hand, is not controlled by anyone. It’s a decentralised network and it’s built on the cooperation and communication of all the people taking part in it. Because of that, even if some part of the network goes offline, transactions will still be coming through. It can’t be counterfeited

    Bitcoin was designed as a currency that can withstand counterfeiting attempts. The legitimacy of BTC is ensured by the Blockchain technology, as well as by various different defence mechanisms built into every algorithm.

    read more
Working...
X