It is basically a software platform built on the Bitcoin blockchain, all transactions actually take place on the BTC blockchain and are recorded and confirmed by the BTC network.
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Pros
Creating and trading custom currencies or tokens issued by the user can represent values.
It supports a decentralized, trustworthy and secure crowd-sourced platform.
Safety, stability and ease of adoption have increased.
Extending the capacity of existing networks.
Cons
Feeling the intensity of popularity at first, it soon went relatively under the radar and remained without fog for a while.