The Cryptocoin Graph

Cryptocoingraph as it's name entails is a multi-purpose weblog , which it's main activity is based on disseminating the latest and important trending updates on Bitcoin and cryptocurrencies , blockchain innovation around the globe. Bringing the latest to your doorstep , please follow up with and subscribe to our newsletter . Freelancers are also welcome.

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Monday, December 17, 2018

What Is Bitcoin?

Bitcoin  is a cryptocurrency, a form of electronic cash. It is a decentralized digital currency without a central bank or single administrator that can be sent from user-to-user on the peer-to-peer bitcoin network without the need for intermediaries.
Transactions are verified by network nodesthrough cryptography and recorded in a public distributed ledger called a blockchain. Bitcoin was invented by an unknown person or group of people using the name Satoshi Nakamoto and released as open-source software in 2009.Bitcoins are created as a reward for a process known as mining. They can be exchanged for other currencies,products, and services. Research produced by the University of Cambridge estimates that in 2017, there were 2.9 to 5.8 million unique users using a cryptocurrency wallet, most of them using bitcoin.

Bitcoin has been criticized for its use in illegal transactions, its high electricity consumption, price volatility, thefts from exchanges, and the possibility that bitcoin is an economic bubble.Bitcoin has also been used as an investment, although several regulatory agencies have issued investor alerts about bitcoin.

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