Bitcoin is the gold of the people of Mars in 2050.
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Bitcoin is like the gold of the Martians Private tutor Israel Peled Tools for creating value have emerged since the dawn of human history. Preservation and trade in value ranging from the bundle of wheat in ancient Canaan called the shekel through the gold as a tool for preserving value and valuable jewelry. This time with the technological revolution came a new digital tool for storing value in a distributed way throughout the Bitcoin world. Today technology is evolving at an incredible rate. The Bitcoin developer community is already ready for quantum computer algorithms.
On the one hand man develops nantes self-engineering. On the other hand artificial intelligence and supercomputing. The power that will balance these two are distributed technologies. Bitcoin is just the first decentralized account book. Etherium is already a decentralized computer that can create coins to do operations and paid memory in its own Etherium currency.
These technologies like autonomous driving will come for sure the question is just when. For your pension. To get to know the players and souls in the world of the crypto sector. How Bitcoin started It all started on October 31, 2008. An anonymous anonymous email was sent to dozens of members of Cryptography forums — the math encryption industry. The email was signed by the nickname Satoshi Nkumoto. The email read as follows: “I’ve been working lately on a new electronic cash system directly from person to person, without a trusted third party,” “Main Features: Dedicated spending through a network of people. There is no single factor controlling the system.
Participants can be anonymous. New coins are created from proof of fire style work. The calculation power of the coin production algorithm also activates the network to avoid double payment “, “I’ve been working on a new electronic cash system that’s fully peer-to-peer, with no trusted third party, The main properties: Double-spending is prevented with a peer-to-peer network. No mint or other trusted parties . Participants can be anonymous.
New coins are made from Hashcash style proof-of-work. The proof of work for new coin generation also powers the network to prevent double spending “ Satoshi Nakamoto This is what the person wrote under the nickname Satoshi Nakamoto in the email. He connected via a column that allows anonymity on the web and attached a 9-page document to the email. Simple white with text only, simplicity of efficiency. The white page of Bitcoin can be read here By the way to Satoshi’s mystery story. According to the statistics of the hours that the character nicknamed Satoshi Nakamoto connected, it can be assumed that she lives in North America. Today many tend to think it’s the Finnish goddess — a cryptography professor from California who was one of the first of the cyberpunk movement along with Phil Zimmerman.
A movement that believed in the continuation of privacy as it once did without technology in reality and the Internet and the digital space for human development. On the Bitcoin website that Satoshi opened for the project, a discussion began in the forum. On January 3, 2009, the network began operating. This means that anyone who wanted to could run software on his computer that would do the calculation of the network. At first, a home computer was simple enough to calculate and maintain Bitcoin. The first wallet address and first transaction sent was to El Pini in California. To date, Stoshi has not used any funds. El Fini contracted ALS, his health deteriorated in 2009 and he died in 2014.
He himself denied that he was Satoshi but was known for his humor and use of nicknames and characters. In any case it does not matter who invented bitcoin just as it does not matter who invented electricity or the vehicle. They can be used without fear that the inventor controls technology. Bitcoin today as a result of its special and distributed online creation to the most distributed currency in the currency sector. A not inconsiderable achievement for the magic word market in which it is decentralized. decentralize everything In the words of Vitalik Butrin, the founder of Ethereum. But what exactly is Bitcoin The breakthrough in Bitcoin is a breakthrough in computer science.
For the first time a piece of digital information can be produced. Which cannot be copied and used but is uniquely identified. The encryption was based on any known technology at the military level. PGP protocol. A big 72-digit lottery is your user and password. For convenience in long numbers do its coding at base 58 which is represented in small and large letters and get a cycle like a bitcoin wallet address. From the private key create the private key. Address control is done by sending a signature of a transaction in the public key to bitcoin servers scattered around the world. By the public key attached it can be verified that the sealer does indeed hold the private key. The information is stored on bitcoin servers around the world competing to add the first signatures and find the fire that ends in 18 zeros.
The result looks like this 0000000000000000000009d7a39823971c557b254c79f21f5756f9df1d5ddc9f74
Finding the above characters requires 100 times the computing power of all Google servers in the world combined. It is the power of energy that actually secures Bitcoin. Like the energy of a small country. The computer that calculated below “cured” this blog received 6.5 bitcoin + transaction fees another 0.5 bitcoin. It is the economic incentive that causes companies to set up server companies in cold places on green and cheap energy to run day and night bitcoin servers. The Bitcoin protocol has never been hacked. All the loss of funds came from stock exchanges or individuals. Not a bug in the protocol itself as happened in Ethereum.
The protocol is simply energy-wasting but incredibly safe. Bitcoin was the first swallow for distributed technologies Atherium is Bitcoin 2.0 distributed computing. Nowadays by running a code called “smart contract” operations can be performed in the registration and calculation of the Ethereum network regularly and automatically.
there are now distributed exchanges for exchanging Ethereum tokens. Smart Contracts for Insurance Smart Contracts. This industry is called DeFi short for decentralized finance. Today, most new users store their money on the largest stock exchange — Binance.
