Origination of Cryptocurrency: As we all know that cryptocurrencies are the most famous in today’s time. Bitcoin was the first to conserve; it was announced in 2008 and was launched in 2009 by a person named Satoshi Nakamoto.
Everything in this platform was kept discrete, and nothing was hidden. This was the very new system that was started by this person.
At that time, no one believed in this platform, but now it is at its peak, and the prices are too and too much high. Value of the Bitcoin is increasing day by day. Whom do we say the father? The person who had given birth to a son and the son will further move on with the generation.
There was no cryptocurrency, Bitcoin, or any other cryptocurrency like dogecoin before 2008. The revolution of Bitcoin or the basics of cryptocurrency initiated with Bitcoin.
As the new thing launches, there are lots and lots of arguments about that. In the same way, there were use arguments against Bitcoin. Like this was thought that what would happen if it would be a fraud, what would happen if our Bitcoins got hacked, and many other things.
Points to be kept in mind while dealing with the privacy of Bitcoin
With time, people started to read about cryptocurrencies and all their mechanisms. They came to know about the security provided by the Bitcoin platform, privacy provided by the Bitcoin platform, mining processes that provide employment to many people, and many other things.
Initially, this was assumed that if there is no one at the top, there must be the chances of fraud, but later on, the thinking changed, and people started to think that if there is no one at the top, there might be significantly fewer chances of fraud.
All the transaction processes are being verified and processed with the help of the miner. And if any of the miners try to manipulate the transaction, the other miners present will come to know about that, and they will not allow the person to undergo that illegal thing.
Even all the transactions are encrypted by the process named cryptography.
It isn’t easy to decrypt the transactions made by cryptography. Even all the transactions which are made by the platform of cryptocurrencies are kept private, and no one can even get the record of that transaction like sender-receiver and the personal information of any person.
Later on, with the time as smartphone users begin to increase, they became aware of the mode of investment that is cryptocurrencies. The other thing is that this platform is straightforward to use and can be handled by any person.
The significant reasons because of which the person using this platform is that-
- there are very few chances of fraud
- transaction charges are significantly less
- can be easily handled by any person
- all the transactions are made private
- transaction time is significantly less
Investing in the mining process
Even in Bitcoin, if the person is not able to invest, or we can say that if the person is not financially strong, then they can easily engage in the mining processes and can earn Bitcoins very easily.
As in the mining processes, if the person solves the mathematical problem of the transaction and the transaction gets verified, the person is rewarded in the form of Bitcoins. We can say that cryptography also provides employment to jobless people.
Everything we had discussed in this was started by Bitcoin.
All the processes are transparent and can be seen by any person. Satoshi Nakamoto, who started this Bitcoin platform, provided all the things in blank paper and uploaded it on the internet and got many.
Everything is transparent, like how the mining process occurs, how the transaction gets verified, and how the miners get rewarded. Each and everything is transparent. Any person can easily invest in Bitcoin through platforms like weed profit App.
Conclusion
In the end, we can conclude that Bitcoin is a platform that other cryptocurrencies had followed and started with their own cryptocurrency. So here, we can easily say that Bitcoin is the father of all cryptocurrencies, as this gave birth to the cryptocurrency platform. So we should definitely invest in Bitcoins or any other cryptocurrency.
