What is Bitcoin?

What is Bitcoin?

Bitcoin (BTC) is an encrypted currency based on decentralization, adopting a peer-to-peer network and consensus initiative, open-source code, and memory blockchain as the underlying technology. Bitcoin theory was first put forward by Satoshi Nakamoto on October 31, 2008. And On January 3, 2009, bitcoin was born.

Anyone can participate in bitcoin activities and can be issued through computer operations called mining. The maximum number of Bitcoin agreements is 21 million to avoid inflation. Bitcoin is to use a private key as a digital signature, allowing individuals to pay directly to others, which is the same as cash that doesn’t have to go through third-party institutions such as banks, clearing centers, securities firms, electronic payment platforms, etc. In this way, bitcoin trading avoids high handling fees, cumbersome processes and regulatory issues that can be used by any user as long as they have a digital device that can connect to the Internet.

There is a view that the advent of Bitcoin is the result of people's hatred of over-issuance of national sovereign currencies in the commodity economy, monetary policy intervention, and yearning for community consensus currency autonomy; at the same time, the underlying technology of Bitcoin, the blockchain, can be applied to all walks of life.

Elon Musk believes cryptocurrency are "good things."

When the richest person in the world gives his support to a virtual currency you know it's big business.

On January 8, 2021, the bitcoin transaction price rose to $41,616. On February 21, it reached $58,238. On March 13, the bitcoin transaction price broke through US$60,000. On April 14, 2021, the bitcoin price once rose to a historically high price of $64,374.

Website: https://bitcoin.org/

What is Ethereum?

Ethereum is an open blockchain platform. Everyone can use blockchain technology to build and use decentralized applications. Like Bitcoin, no one controls or owns Ethereum-it is an open-source project built by many people around the world. But unlike the Bitcoin protocol, the design of Ethereum is adaptable and flexible. It is easy to create new applications on the Ethereum platform, and in the Homestead version, everyone can safely use these applications.

Ethereum is known as the next generation of cryptocurrency and decentralized application platform", which began to develop through ICO crowdfunding in 2014.

Ethereum is currently the second-most-valuable cryptocurrency only to bitcoin.

Website: https://ethereum.org/