Bitcoin – the king of crypto coins. This coin was first unveiled in 2008 by a person or a group going by the name of Satoshi Nakamoto, thus becoming the first cryptocurrency. Its birth spawned the entire industry. This is both thanks to Bitcoin’s blockchain technology and the tenets it stands by.
Blockchain is a large database of information about crypto coins that run on a particular blockchain network and all transactions taking place. Blockchain tech relies on complex cryptography, protecting it highly against exploits. As for Bitcoin’s ethos, which is followed by the rest of the crypto space, it focuses on the idea of decentralization. In traditional finance, institutions such as central banks have control over people’s money. But that’s not the case with crypto, where users have control over their digital assets.
Thanks to these innovations, we now have DeFi (decentralized finance), P2E games, NFTs and other developing fields in the Web 3.0 space. And, of course, Bitcoin is still as relevant as ever, which is why we don’t miss covering it in our Crypto Academy.