Now it is difficult to find a person who has never heard of the existence of Bitcoin. But the vast majority of people do not fully understand what it is and how it really is. In this article we will discuss the true appearance of Bitcoin and find out even if BTC can have a physical form.
1. What does Bitcoin look like?
Let us briefly recall that Bitcoin is the world's first cryptocurrency, launched in January 2009. This is the first decentralized payment system in the world, where interaction is exclusively between users and does not require regulation by intermediaries. . All this works with the help of blockchain technology, which guarantees the security of transactions.
The Bitcoin network is a chain of blocks, which stores information on all transfers of coins in the entire chronology. Each block has date and time and information encrypted on the previous block. This data is stored on all the computers of the miner at the same time, so nothing can be changed in the registry. So, in practice, Bitcoin is just a record in the blockchain.
2. There is a Bitcoin in physical form
It is very difficult for the vast majority of people to imagine something that does not exist in the real world. Some enthusiasts have started to release Physical bitcoins for this reason. What is it? Bitcoin coins real materials are physical portfolios. They are designed for secure storage of coins and for offline payments. You can find the address of the wallet, which is publicly available, as well as the private key, which is hidden by a special hologram on the coin.
The first physical coins were issued in 2011, produced by Mike Caldwell. The circulation was 3500 pieces, it is worth saying that the author has extracted these digital goods alone. These coins were sold very quickly, so in 2013, Caldwell released the new generation of physical bitcoins, which had a new design.
3. What are theyand prospects for Bitcoin?
The first digital currency in history has maintained its leading position for almost 10 years and remains the power plant for the entire sector. The first currency exchange rate was 1 dollar for 1,309.03 BTC. Recall that the rate of coins in December last year rose above $ 20,000, and then began to fall. Bitcoin costs around $ 3,300 now, according to CoinMarketCap.
Without a doubt, it is the largest increase in the value of assets in the history of mankind. Many experts in cryptocurrency foresee a great future for Bitcoin. Coin issues are limited, the complexity of the mines increases every year and the user base grows. All these factors will surely have a positive effect on the cost of the asset in the future.
Bitcoin has a big problem that slows its development: a small bandwidth. The network is able to perform only 7 operations per second. This means that the more people will use the system, the longer it will take to wait for the transaction to be confirmed. Sometimes it can take hours or even days.
4. Conclusion
Many people ask: "How does 1 Bitcoin appear? "In general, BTC does not exist in physical form, it is just a set of data stored in the blockchain, but fans have created physical analogues of coins, especially for collectors, they are physical portfolios, made in the form of coins.
The future of Bitcoin is not yet fully defined, but most experts believe that the peak of its popularity is still ahead.
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