We are living in the world where technology growing exponentially.I am really proud of this because of I am also one part of this.
Let's count some biggest digital transformation.
- 11 April 1976 first PC created by Apple: Steve Jobs.
- August 28, 1980, Microsoft signed an agreement with IBM to develop software for the PC: Bil Gates.
- 1990 The World Wide Web: Tim Berners-Lee.
- 5 July 1994, Amazon: Jeff Bezos.
- 4 September 1998, Google: Larry Page and Sergey Brin.
- 1 June 1999, Napster (Torrent): Sean Parker.
- February 2004, Facebook: Mark Zuckerberg.
- 9 January 2007, iPhone by Apple: Steve Jobs.
- January 2009, Bitcoin : Satoshi Nakamoto.
Bitcoin is the first cryptocurrency.
Is Bitcoin Secure?
Bitcoin base on the technology called Blockchain and this is the reason Bitcoin can't be duplicated, like other digital files.
What is BlockChain?
The blockchain is most like a torrent.blockchain track all the bitcoin transactions and store in all nodes (every computer on the network).
Blockchain track all transactions means preparing ledgers. Ledgers lool like something this.
This is in simple text format but actually, this is stored in encrypted format after every transaction made ledger will be encrypted.
Every transaction mathematically related to each using cryptography so that's why it is very very difficult to Modified for hackers.
But this is not enough. Every Node contains same copy of ledger.
Means if someone hacks one ledger other nodes on the network will reject this alteration. If someone wants to hack the bitcoins he/she need hack all node may be one billion at the same time. which is insane it is not possible.
Means Blockchain chain is the backbone of CryptoCurrencies.
Wait a minute CryptoCurrencies? , Are their other like bitcoins?
YES!
I will tell you about other CryptoCurrencies and how they are different from Bitcoins in Part-2.
More About Cryptocurincy Please check following posts.
https://dotnetclan.blogspot.in/2018/01/cryptocurrencies-altcoin-part-2.html
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