Decentralization and anonymity in the bitcoin and use

While the bitcoin is a decentralized digital currency, the responsibility for the safety of the system is totally on the users. Every user decides about the tools to provide the safety for the crypto wallet. The main weapon against the hacking is the anonymity. It can be improved with

What you should know about bitcoin?

The bitcoin system differs a lot from the other financial forms, because it is decentralized:

  • No organizationis able to control bitcoin
  • No bank can control the emission of crypto currency.

 crypto currency

What are the main two qualities of the system?

The cryptocurrency is based on two qualities – absolute anonymity and reliability of system’s transactions. Owners improve their anonymity with Mixing pf coins provides more safety, because makes the tracking impossible. Bitcoin is not connected with banks, states, gold reserves, as it is only a collection of symbols obtained as a result of solving the problem. According to the idea of ​​the creator, its course can be influenced only by demand, which is deliberately limited.

The specificity of the new currency is that it is not printed by the central bank and does not work according to its rules. Banks can print as much money as possible to cover government debt, thereby devaluing their currency. And bitcoin is free from this danger. The emission of bitcoins is possible only in digital form and anyone can start to extract bitcoins at any time. When transferring bitcoins, transactions are processed by the same network.