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NEET CHAPTERWISE QUIZ Telegram | DID YOU KNOW?
Date: | NEET CHAPTERWISE QUIZ
What Is Bitcoin?
Bitcoin is a decentralized digital currency that you can buy, sell and exchange directly, without an intermediary like a bank. Bitcoinâs creator, Satoshi Nakamoto, originally described the need for âan electronic payment system based on cryptographic proof instead of trust.â Each and every Bitcoin transaction thatâs ever been made exists on a public ledger accessible to everyone, making transactions hard to reverse and difficult to fake. Thatâs by design: Core to their decentralized nature, Bitcoins arenât backed by the government or any issuing institution, and thereâs nothing to guarantee their value besides the proof baked in the heart of the system. âThe reason why itâs worth money is simply because we, as people, decided it has valueâsame as gold,â says Anton Mozgovoy, co-founder & CEO of digital financial service company Holyheld.
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