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Bitcoin
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=== What's the main problem that Bitcoin is designed to solve? === The main problem that Bitcoin is designed to solve is the issue of trust in financial transactions. Traditionally, trust has been established through intermediaries like banks or financial institutions. Bitcoin, through its decentralised blockchain technology, solves this problem by allowing for peer-to-peer transactions without the need for a centralised authority. This design addresses several key issues: # '''Double Spending:''' It prevents the same digital currency from being spent twice. # '''Censorship Resistance:''' Transactions cannot be easily blocked or censored by governments or institutions. # '''Reduced Dependency on Intermediaries:''' It minimises the need for third parties, reducing potential points of failure and costs associated with transactions. # '''Global Accessibility:''' Bitcoin offers a global, digital form of currency accessible to anyone with an internet connection, not limited by national borders or traditional banking systems.
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