BitFinance
Confirms And Settles Transactions Quickly In the beginning An impressive amount of progress has been made in a very short amount of time with regard to blockchain technology and cryptocurrency. Satoshi Nakamoto, whose identity has not been revealed, is credited with the creation of Bitcoin in 2009, making it the first decentralized cryptocurrency. Without the need for a centralized authority, this revolutionary digital currency was able to eliminate the issue of double spending, which had hampered earlier efforts at digital cash. With the introduction of Bitcoin, the innovative idea of a distributed ledger that is driven by blockchain technology was unveiled. In its most basic form, blockchain may be seen as a distributed database that is shared among members in a network. In order to record transactions in a form that is both verifiable and lasting, it makes use of sophisticated encryption. This eliminates the need for middlemen such as banks, making it possible for transactions...