A PERSONAL PROJECT

Simply put, a blockchain is a shared database or ledger. Bits of data are stored in files known as blocks, and each network node has a replica of the entire database. Security is ensured since the majority of nodes will not accept a change if someone tries to edit or delete an entry in one copy of the ledger.

Pros and Cons of Blockchain

For all of its complexity, blockchain’s potential as a decentralized form of record-keeping is almost without limit. From greater user privacy and heightened security to lower processing fees and fewer errors, blockchain technology may very well see applications beyond those outlined above. But there are also some disadvantages.

Pros

• Improved accuracy by removing human involvement in verification

• Cost reductions by eliminating third-party verification

• Decentralization makes it harder to tamper with

• Transactions are secure, private, and efficient

• Transparent technology

• Provides a banking alternative and a way to secure personal information for citizens of countries with unstable or underdeveloped governments

Cons

• Significant technology cost associated with some blockchains

• Low number of transactions per second

• History of use in illicit activities, such as on the dark web

• Regulation varies by jurisdiction and remains uncertain

• Data storage limitations

  ACKNOWLEDMENT: ww.w.investopedia.com

https://www.youtube.com/watch?v=SSo_EIwHSd4

A cryptocurrency is a digital or virtual currency secured by cryptography, which makes it nearly impossible to counterfeit or double-spend. Most cryptocurrencies exist on decentralized networks using blockchain technology—a distributed ledger enforced by a disparate network of computers.

A defining feature of cryptocurrencies is that they are generally not issued by any central authority, rendering them theoretically immune to government interference or manipulation.

https://www.youtube.com/watch?v=rYQgy8QDEBI

Bitcoin (BTC) is a cryptocurrency (a virtual currency) designed to act as money and a form of payment outside the control of any one person, group, or entity. This removes the need for trusted third-party involvement (e.g., a mint or bank) in financial transactions.

Bitcoin was introduced to the public in 2008 by an anonymous developer or group of developers using the name Satoshi Nakamoto. It has since become the most well-known and largest cryptocurrency in the world. Its popularity has inspired the development of many other cryptocurrencies.

Read on to learn more about the cryptocurrency that started it all—the history behind it, how to buy it, mine it, and what it can be used for.

https://www.youtube.com/watch?v=BFKZoq2z39s

The Rainbow Chart is a pictorial illustration of the 4 year Bitcoin Cycle.

The Bitcoin Rainbow Chart is a logarithmic graph that visualizes the historical price movement of Bitcoin and provides a potential trajectory for its future price based on past trends. Coincipher believe the Rainbow Chart is a valuable tool for understanding Bitcoin’s long-term growth and market cycles.

https://www.youtube.com/watch?v=Ytyj-SpHJ8c