There’s been a couple of incidents that sticks out, since Bitcoin first came into the scenes. Firstly, an inventor with an anonymous identity; secondly, illegal marketplace with an anonymous currency system and finally, disastrous finale of its biggest exchange services. Not an ideal scenario for an investment opportunity and to attract new investments.
But if you take a broader look at the bitcoin network now, the currency does not excite the community anymore. People are more interested in the technology behind the bitcoin rather than the currency itself. As a matter of fact, blockchain technology is thought have the potential to bring about revolutionary changes in various fields.
At first, let’s talk about some basics that most of us already know. Bitcoin is like any other currency that can be used as payments. The difference is that it is digital. But that would be the perfect currency system considering everything is digitalized in this modern century. Making a payment with bitcoin is just like filling “block” which records the data of the payment. After a certain amount of time, the block is filled and a code is left in the corresponding computer which represents