In today’s article, we will investigate some of the most well-known applications of bitcoin in everyday services, see how they work and also the consolidation of bitcoin throughout the years. In addition to that, we will touch briefly on the specifics of each implementation. A cryptocurrency is a digital or virtual currency protected by cryptography, making it nearly impossible to forge or double-spend. Blockchain is a distributed ledger enforced by a distant network of computers that underpins many cryptocurrencies, including bitcoin and litecoin. One of the distinguishing characteristics of cryptocurrencies is their decentralization, which makes them potentially impervious to government intervention and manipulation. As the decentralized ledger that underpins bitcoin transactions, blockchain was originally presented to the public in 2008. Since then, the technology has taken on a life of its own, and there has been continued interest in it from a variety of sources. Research and implementation of blockchain technology are being conducted by businesses, governments and other organizations to address a wide range of challenges, the vast majority of which have nothing to do with virtual currencies. Over a decentralized network, blockchain can provide security, traceability, immutability and transparency. Because of this, it is ideally suited for use cases that can no longer be supported by conventional infrastructure. A b...
