Review on Bitcoin by Adedayo Adeniji
Cryptocurrency project
.Bitcoin is a cryptocurrency operated by a decentralized network of users and is not subjected direct influence of central banking over ruling and of the national governments.
Bitcoin is backed up by a source code that uses highly complex algorithms to prevent unauthorized manipulation to recreate its units. It is impossible to break its source code in other to duplicate its currency supply
Bitcoin is the first known modern cryptocurrency and it gives the head way to the rest of the cryptocurrencies.
Pros
- Bitcoin is widely accepted as a mode of payment
- The liquidity of bitcoin is far greater than its peers, which gives its users an opportunity to retain most of its intrinsic value when swapping to fiat currencies.
- Bitcoin can not be politically influenced.
Cons
- Bitcoin lacks chargeback and refund functionality.
- Bitcoin is highly attacked by scam and fraudulent activities
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Comments (2)
June 06, 2021
There is not mentioned that it is mainly store of value with the most secured network. There is no better project (and probably never be). It is still evolving especially with layer 2 solutions such as lightning network which will make btc also good as a mean of payment.
February 14, 2021
Bitcoin no doubt is the father of al other cryptocurrencies, now with its current value and acceptance it has proven the nay sayers wrong and channelled a new frontiers for Crypto to take its pride of place as the future of transaction for the next century. Nice review I hope to see you do an update that's. Richer soon.
