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About Bitcoin

Bitcoin first introduced in 2009 as an open project by an anonymous person or group of people with the nickname Satoshi Nakamoto. It is the first decentralized cryptocurrency ever built using blockchain technology. Bitcoin is the most popular cryptocurrency in the market with the highest value. It works on SHA-256, a cryptographic Hash algorithm. A cryptographic hash is a kind of signature or code for a text or data file in the form of code. Hash generated in encrypted form and it cannot be decrypted back to the original text. The technology have the highest level of security if hackers wants to change the one hash than they need to change the all hash available in the ledger because each block of data contains its own hash and the hash of its previous block, so it’s impossible to do. The main purpose of Bitcoin is to provide the decentralized but trusted and secured money transaction between people and business around the world. There are approximately 2.9 and 5.8 million unique users actively using Bitcoin cryptocurrency wallet and 100000 vendors accept Bitcoin for payments.