What exactly is Bitcoin? Why has it become so popular all of a sudden?

Created in 2008 by a man called Satoshi Nakamoto, Bitcoin is the first digital currency in the world. It was developed to facilitate payments and financial transactions without the interference of a third-party, such as banks.

Bitcoin became really popular because it allows us to make peer-to-peer transaction faster, safer and in an anonymous way. But the real secret behind Bitcoin success is the technology that made this cryptocurrency possible: blockchain.

Blockchain is a Distributed Ledger Technology that enables the sharing and storage of data in a tamper-proof network spread all over the world. It not only allowed the development of Bitcoin but also of other altcoins and, more recently, of Decentralized Applications – a type of app that can help improve almost any type of industry.

If you are looking to know more about Bitcoin and other blockchain developments, take a look at Blockchain App Factory website: https://www.blockchainappfactory.com/

Beginner Asked on April 29, 2019 in Blockchain.
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