Review on Bitcoin by Viet Pham
Bitcoin when Blockchain technology first applied
Bitcoin was the first cryptocurrency with shatoshi father marking a turning point in Blockchain technology, when transparent and open decentralized transactions, born in 2009 Bitcoin went through 11 years of deep down when there was only number of growth
On a par with Amazon, it is the money generated for global payment
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however, it is still considered to be a speculative asset at the moment when the price fluctuates strongly,
With the Proof of work bitcoin mechanism that can be earned through minning, miners will receive Bitcoin when completing a transaction.
It is the largest Btc currency with market leading capitalization and the base currency that all exchanges listed.
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Pros
- a breakthrough in human technology, when a decentralized currency was born to replace the fiat
- is the first application of Blockchain technology to spawn other cryptocurrencies
Cons
- applicability is not high when solvency is still not popular
- Used to speculate hoarding
- Not widely accepted yet
