Recently Viewed MLM Blog
Bitcoin: The Pioneer in the Virtual Currency
Bitcoin: The Pioneer in t...
Online MLM Business Classified Advertising Services
Online MLM Business Class...
What is MLM or Network Marketing? How it Works and Benefits
What is MLM or Network Ma...
Find Out About What Works In Multi Level Marketing Business
Find Out About What Works...
Six important reasons why the beginnings of a business on a work at ho
Six important reasons why...
Generating More Leads for Your Multi-level marketing
Generating More Leads for...
Are MLM businesses and Ponzi Schemes are legal, supported by the Modi?
Are MLM businesses and Po...
Cryptocurrency
Cryptocurrency
MLM Network Marketing: Tips To Help You Profit
MLM Network Marketing: Ti...
MLM Network Marketing Success - Tips And Tricks
MLM Network Marketing Suc...
Most Viewed MLM Blog
Nine Tips on how to Create a Great Impression at Work
Nine Tips on how to Creat...
The reason why Companies Are Turning To Network Marketing
The reason why Companies ...
The Right Way To Create A Successful Business In Multi Level Marketing
The Right Way To Create A...
Some Points And Important Good Advice for Multi Level Marketing
Some Points And Important...
Multi Level Marketing - Most Important Hints And Tricks
Multi Level Marketing - M...
5 Important things You Must Believe to be a Success in MLM Company
5 Important things You Mu...
Powerful Advice For Increase Your Online MLM Network Business
Powerful Advice For Incre...
7 MLM Tips to big team building in network marketing in Hindi
7 MLM Tips to big team bu...
Do not Waste Your Time Reading Books, Get The Most MLM Tips Here
Do not Waste Your Time Re...
Success a Great Place Using Your Multi Level Marketing Plans
Success a Great Place Usi...

Bitcoin: The Pioneer in the Virtual Currency

Bitcoin: The Pioneer in the Virtual Currency

Bitcoin: The Pioneer in the Virtual Currency
Meaning of Virtual Currency: Virtual Currency, also known as Crypto-Currency, is a digital representation of value that could be electronically traded and acts as a medium of exchange or unit of value. Virtual Currency lacks the legal tender status and thus differs from traditional legal currency on this ground. Unlike traditional currency, virtual currency is not promised and backed by the government or the banking system. Virtual currency can be obtained, stored, transected electronically, and can be used as a mode of payment and could serve many other purposes, as long as parties in the transaction want to use it. Amongst many other virtual currencies, Bitcoin has the status of being the first and original virtual currency, which makes it a very prominent currency. In 2009, bitcoin brought a revolution in the existing monetary system. 
Operation of Bitcoin: Like all other virtual currencies, bitcoin is supported by a system, known as the blockchain, which ensures proper accounting of transactions and balances. Blockchain maintains the digital ledger of transactions and shares those among the distributed network of computers. With the use of cryptography, it permits each participant to influence the ledger in a secured way. The absence of the central regulatory authority makes it independent and thus no bank or government influences and controls the virtual currency. Cryptography ensures the secrecy of data and prohibits the leakage during the transmission and only intended participants could decode the data and message. In the recorded data, manipulation or amendments is very tough, thus making the system robust.
Features of Bitcoin:
1. Decentralization:  Virtual Currency is not governed by any central authority. Every computer that involves in the transaction becomes the part of the network and records a copy of the transaction. Thus, all transactions and balance records get stored on thousands of computes.  The absence of a central regulatory body suggests that the owner of Crypto-currency has the sole power on the currency and could not be diluted by a government with the change in the monetary policy. 
2. Anonymity: Records of virtual currencies are public and as owners are known only by virtual currency addresses, their real-world identity is not traceable. This feature makes the virtual currency more transparent and parallelly anonymous.
3. Transparency: All transactions and balances stored at virtual currency addresses are public and could be viewed by anyone interested. The blockchain system controls the recording of ledgers.  
 
Virtual Currency has a vast promising future as it is open to all and is widely accepted by the business society for transactions. MLM and network marketing portals, like MLM Diary, provide a gateway to the information about Bitcoin and similar virtual currencies which supports better analysis which turns into a safe investment.

  • 0 like
  • 0 Dislike
  • 207
  • Share
  • 1349
  • Favorite
  • 11 September, 2020
Previous Next
App
Install