Bitcoin: Difference between revisions

Revision as of 21:31, 19 March 2022

Summary

Bitcoin is a currency.

What is Bitcoin?

Bitcoin is a currency.

What's unique about Bitcoin?

What makes Bitcoin unique is that the supply of the currency is limited (at 21 million coins) and transactions of the currency occur peer-to-peer (i.e. without the need of a central entity, such as the Bank of England).

Competition

Competition
Item	Bitcoin	Ethereum	US Dollar
Does the currency operate on a decentralised network?	Yes	Yes	No
Is the supply of the currency limited?	Yes	No	No
Example	Example	Example	Example

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-| Example || Example || Example || Example || Example || Example || Example || Example
+| Does the currency operate on a decentralised network? || style="background: green; color: white;" | Yes|| style="background: green; color: white;" | Yes|| style="background: red; color: white;" | No
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-| Example || Example || Example || Example || Example || Example || Example || Example
+| Is the supply of the currency limited? || style="background: green; color: white;" | Yes || style="background: red; color: white;" | No ||style="background: red; color: white;" |  No
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