Electronic money has been tried in the past (ex: ecash) but what makes cryptopcurrency so powerful & different? Especially Bitcoin?
One word, immutability. What makes bitcoin so revolutionary is the inability to change or reverse transactions, thus solving the "double spending" problem that previous digital currencies faced in the past. The decentralized nature of the bitcoin blockchain creates trust for the users of the currency by making transactions harder to either hack or manipulate from a supply standpoint; which in turn provides faith in the stability of the currency.
Answered 3 years ago
Access 20,000+ Startup Experts, 650+ masterclass videos, 1,000+ in-depth guides, and all the software tools you need to launch and grow quickly.
Already a member? Sign in