Bitcoin Decentralization: 5 Reasons for Success

BITCOIN DECENTRALIZATION

Bitcoin Decentralization: We looked at the crypto basics that underlie Bitcoin and ended with the description of a simple currency called Scroogecoin. Scroogecoin achieves a lot of what we want in a ledger-based cryptocurrency, but it has one glaring problem—it relies on a centralized authority (Scrooge). We ended with the question of how to decentralize,

Bitcoin’s History: 10 Remarkable Milestones of Its Extraordinary Rise

BITCOIN’S EARLY HISTORY

Bitcoin’s History is colorful, more colorful than some received wisdom might have it. Some Bitcoin proponents say ‘Bitcoin (the protocol) has never been hacked,’ but they are wrong. Bitcoin has been hacked. Here is a selection of events from historyofBitcoin.org and the Bitcoin Wiki with my personal comments about these events. The Genesis of Bitcoin:

What is Bitcoin? 10 Essential Benefits You Need to Know

WHAT ARE BITCOINS?

What is Bitcoin? It’s a digital asset, often referred to as ‘coins,’ with ownership recorded on a decentralized electronic ledger known as Bitcoin’s blockchain. This ledger is continually updated on approximately 10,000 independently operated computers worldwide, which communicate and synchronize. Transactions, representing the transfer of ownership of these coins, are generated and validated according to