In 2019 my friend ask me to buy cryptocurrency if I wanted to be successful. Well at first I did not bother but then I bought some Bitcoins. You know what It turned out to be a fortune for me. You might be thinking why I’m discussing my experience. It is pretty clear because I think you should also know about the Bitcoin blockchain and its future. By using Bitcoin technology you do not have to rely on banks or middlemen to manage your transactions. It allows us to send online payments right to one another without implying banking institutions.
If you want to understand it in my words then Imagine Bitcoin like a big team of thousands of computers that we call nodes. These nodes follow a set of rules which we call a protocol. This protocol’s job is to create and protect the blockchain, which is like a secure digital ledger.
Plus You can Withdraw your earnings at any time and use them however you want, or trade them on crypto exchanges such as Immediate Edge platform.
Why Blockchain Technology was invented?
Bitcoin technology has become more popular in recent years.
Have you ever thought of it, when you send money to your family or friends from your bank account? You make transactions and everything seems smooth, right? but there’s more that most of us really did not know about. I did not know it either, but my friend who is a finance analyst told me that Such transactions can be easily messed with. meaning you can be hacked easily. That’s why we’ve seen the rise of third-party payment apps lately. But this vulnerability is the main reason Blockchain was invented.
What is Bitcoin Blockchain
Do you know what is One of the good things about blockchain transactions that I personally like? it saves both my money and time as well.
Plus in business, keeping track of our data and transactions is a real headache. Usually, this stuff is managed in-house or goes through middlemen like brokers, bankers, or lawyers. So you have to give additional cash to them. But with blockchain transaction Luckily, Blockchain you can skip this lengthy process and makes transactions faster.
if I write it in simple words the Bitcoin blockchain is like a combination of Bitcoin and a special technology called blockchain. Back in 2008, we are not sure if it was an individual or a group named Satoshi Nakamoto who created Bitcoin. They wanted to change how money is controlled because big central organizations were causing problems worldwide.
Do you know why we call it Bitcoin blockchain? To put it in my words think of the Bitcoin blockchain as a chain that is made of building blocks. Each block holds information about Bitcoin transactions. Then these blocks are stacked on top of each other, and each new block needs the ones below it. So this stacking forms a chain of blocks. That is why we call it blockchain. Amazing isn’t it?
Is CUSD also a cryptocurrency?
Yes, it is also a form of cryptocurrency but it is a bit different form of digital money we use. Because it helps to connect regular money systems with people who don’t use banks. CUSD is easy to use because we can use it digitally on a smartphone.
Is it affordable? Besides being easy to use, CUSD is also affordable. As Regular money transactions often have high fees and hidden costs, that I personally do not like. It can also be an issue for individuals with limited money. But with CUSD, transactions are cheaper, so we can make transactions without hidden charges.
Now that I have mentioned everything about the Bitcoin blockchain and why it was created. Bitcoin blockchain is like a combination of Bitcoin and a special technology called blockchain. You will be able to understand that Bitcoin is a type of cryptocurrency. It uses codes to create new coins and check financial transactions. To wrap it up, you can think of blockchain as a secure and transparent club. Where everyone trusts each other. To tell you from my experience trading in Bitcoin and understanding its trends could take some time. You have to pay attention to its charts, trends, and money movement. But once you know how to do it, you can change the whole game.