Review on Bitcoin by José A Rodríguez
Bitcoin's Blockchain keep its crown in the double-spending solutions
Despite of the issues related to transaction processes that still occur in Bitcoin system. It keeps and defends its crown because of its every day more revolutionary solutions.
First of all, the use of public-key cryptography is seen as the main privilege of any cryptocurrency platform, but in the case of Bitcoin this was what broke the deadlock in success by stopping illegal movements and transaction concerns. Secondly, world trade and economies have become more reliable when applying to the major digital-currency-chain leader due to the social isolation and regulations given in the current context.
What I want to say with this is that it is finally proved that cryptocurrencies were and are a great investment. Merchants, suppliers, economists and customers itself are making use of their bitcoins to buy, pay and sell both digital and real goods and services in the public and private, and all this is possible within a wallet reach that have an efficient blockchain system.
Bitcoin transactions are the bread and butter of our current everyday digital world growth. Its restrictions on transactions are no longer available because real users have full control of their bitcoins what is an outstanding success and another solution to the double-spending matter.
Pros
- The system works more efficiently due to its distributed and verified transactions.
- The system provides a better limited set of operations to adapt transactions.
- Cryptocurrencies rise and rise while double-spending problems decay.
- Effectiveness of transactions is checked for all financial activities.
Cons
- Poor wallets’ protection on some investors is still a matter of importance that does not cancel double-spending issues at all.
- It keeps and internal change that does not prove its place in the future despite of the solutions it offers.
- Destabilization of the financial market may occur if bitcoins superficial uses are not controlled.
