Craptocurrny

in bitcoin •  2 years ago 

Bitcoin is an electronic currency that was created in 2008 by Satoshi Nakamoto. Its open source code allows anyone to use it, and it doesn’t require permission from any central authority. Transactions occur between users directly, not through banks or other intermediaries. This means that when someone sends you money, they are sending it directly to you. Bitcoin isn’t backed by any government or bank, so there is no risk of losing your money if the company goes bankrupt. You can also spend bitcoins at online stores like Overstock.com, Newegg.com, and Amazon.com.

Ethereum is an open-source software project with a public blockchain distributed ledger that serves as a digital currency. It allows developers to create programs called “smart contracts” that operate autonomously and transparently. These smart contracts can facilitate peer-to-peer interactions among parties that may otherwise not trust each other. Smart contracts allow users to store funds in escrow while transactions occur. Once all conditions are met, the money is released back to the sender.

Ripple is an open source protocol for sending money across borders. It works like a bank account, but instead of using banks, it uses other users' computers. When you send someone money, your transaction goes through many different nodes before reaching its destination. Each node adds information about the transaction to a ledger called the blockchain. If all the nodes agree that the transaction should go through, then it does. If not, it doesn't. This means that there is always a record of every transaction ever made.

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Your post was upvoted and resteemed on @crypto.defrag

thanks

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