This page is being developed - new in April 2021
What is Blockchain?
"A blockchain is a growing list of records, called blocks, that are linked using cryptography. Each block contains a cryptographic hash of the previous block, a timestamp, and transaction data (generally represented as a Merkle tree).
By design, a blockchain is resistant to modification of its data. This
is because once recorded, the data in any given block cannot be altered
retroactively without alteration of all subsequent blocks.
" - wikipedia
Why Bitcoin Innovation is Revolutionary for a Digital Financial Future
from Bitcoin.org
Control against fraud (blockchain)
"An unprecedented level of security is possible with Bitcoin.
The network provides users with protection against most prevalent types
of fraud like chargebacks or unwanted charges, and bitcoins are
impossible to counterfeit. Users can backup or encrypt their wallets.
Hardware wallets make it very difficult to steal or lose money. Bitcoin
is designed to allow its users to have complete control over their
money."
Global accessibility
"With Bitcoin, all payments in the world can be fully
interoperable. Bitcoin allows any bank, business or individual to
securely send and receive payments anywhere at any time, with or without
a bank account. Bitcoin is available in a large number of countries
that still remain out of reach for most payment systems due to their own
limitations. Bitcoin increases global access to commerce and it can
help international trades to flourish. "
Cost efficiency
"With the use of cryptography, secure payments are possible
without slow and costly middlemen. A Bitcoin transaction can be much
cheaper than its alternatives and be completed in a short time. This
means Bitcoin holds some potential to become a common way to transfer
any currency in the future. Bitcoin could also play a role in reducing poverty in many countries by cutting high transaction fees on workers' salary."
quoted from Bitcoin.org - Innovation
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REFERENCES
https://bitcoin.org/en/innovation
https://en.wikipedia.org/wiki/Blockchain
https://www.nextbigfuture.com/2019/11/how-blockchain-technology-is-making-other-industries-more-efficient.html
Crypto Mining Machine
https://www.asicminervalue.com/miners/goldshell/hs5
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