Position of Bitcoin (BTC) in virtual currency

Bitcoin is said to be the most famous and most valuable virtual currency among many virtual currencies, and it is also the first virtual currency in the world. The history of the bitcoin, Nakamoto person claiming to have started from the paper about the virtual currency of distributed management type which was announced on the Internet.

The currency value of virtual currencies such as Bitcoin tends to increase as many people use it, and demand increases. Bitcoin is the first virtual currency in the world and is already used by many people. Since the number of people who use it is the value of Bitcoin, even if the price falls, it is likely to rise again.

The price of bitcoin has increased significantly since the latter half, the amount of 1BTC = 2 million yen or more, and due to this price increase, it has become widely known in other countries. It is handled by almost all virtual currency exchanges in different countries and overseas, making it a virtual currency that is easy to obtain.

Can you expect the future potential of Bitcoin (BTC)?

Bitcoin maintains a price of around 700,000 yen per BTC. Bitcoin has experienced many price crashes so far, but the reason why it continues to maintain the highest rate among virtual currencies is that many people value the value of Bitcoin. As an evaluation axis, points such as broad market capitalization, high name recognition and used as a critical currency can be cited.

In this way, many people value Bitcoin and continue to maintain a high price, so it can be said that Bitcoin, and eventually, the whole virtual currency, has excellent potential.

Three features of Bitcoin (BTC)

1. Security is perfect thanks to blockchain

Bitcoin uses blockchain technology.

A blockchain is a computer that combines cryptographic technology with multiple computers that make up a distributed network and records transaction information and other data. It is also called a “distributed ledger” because it records data on multiple computers. The origin of the name blockchain comes from the fact that transaction data is recorded in block units and is connected and stored like a chain. Click here at bitcoinfuture.app for updating about bitcoin.

Bitcoin transaction history is stored in what are called blocks that are generated at regular intervals. Bitcoin transaction information is recorded and shared by an unspecified number of people participating in the Bitcoin network. Bitcoin’s currency system is in operation by an unspecified number of people verifying and approving the legitimacy of transactions.

It is said that the tampering of data is extremely difficult because the blockchain is combined with encryption technology. Even if the transaction data is falsified on some computers, the falsified records will not be selected as the correct data because the transaction data is chosen by a majority vote with other networks. The reliability of the information is assured because it is managed by multiple computers rather than by a specific administrator.

2. Currencies without an administrator due to the use of P2P technology

Bitcoin uses P2P (peer-to-peer) technology that does not require an administrator or server. P2P technology is a communication technology that allows you to directly connect terminals and share data without using a server when using a network. Terminals connected to the system are called nodes, and the order in which the nodes are connected is called the P2P system.

The most prominent feature of P2P technology is that it has no server or a specific administrator. There is no risk of fraudulent admins and no reliance on admins to guarantee currency credibility. By utilizing P2P technology, Bitcoin can be said to be a currency that no one needs to trust.

3. Remittance is quick and easy

The payment of Bitcoin can be made quickly and easily. The amount of Bitcoin is completed by the remittance sender, only sending to the Bitcoin address presented to the recipient.

Bank transfers are generally used for overseas remittances. It is not uncommon for a bank transfer to take a few days, with a time lag between the transmission and the deposit. Bitcoin remittances can be made directly between the persons without going through a bank.

About RJ Frometa

Head Honcho, Editor in Chief and writer here on VENTS. I don't like walking on the beach, but I love playing the guitar and geeking out about music. I am also a movie maniac and 6 hours sleeper.

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