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BITCOIN HOW IT WORKS
Unlike credit card networks and payment processors, Bitcoin is not owned by any one individual or company. Rather, it is a completely decentralized payment network that anyone with an internet connection can participate in. Since Bitcoin was designed to be used on the internet and free from government control, there is no central authority that maintains the value of the cryptocurrency.
Instead, Bitcoin relies on Blockchain technology, which is a digital record of transactions (AKA digital ledger). What sets the Bitcoin blockchain apart from a bank’s ledger is that it is decentralized, meaning anyone can view it and no single entity controls it.Here are some details about how it all works:
Ethereum HOW IT WORKS
Launched in 2015, Ethereum is an open-source, blockchain-based, decentralized software platform used for its own cryptocurrency, ether. It enables SmartContracts and Distributed Applications (ĐApps) to be built and run without any downtime, fraud, control, or interference from a third party.
Ethereum is not just a platform but also a programming language (Turing complete) running on a blockchain, helping developers to build and publish distributed applications.
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