Bitcoins The New Age Currency

Bit coin today has become the latest buzz word in the financial markets. The question that arises as a layman to many is that what exactly is this bit coin? It is nothing but a crypto currency or in simpler terms could be defined as a digital currency        and worldwide payment system. This is a decentralized currency and was created in the year 2009. There is not much information on the source of the creator with the only information being available that it was created under the name Satoshi Nakamoto. These are operated by a decentralized authority and promise to offer lower transaction fees then the traditional payment system. Toady bit coin is being much talked about for         its faster transaction system around the world. With the craze of bit coin fast catching up with thousands of transactions being carried out every day. As a result the block size reaching, its limit with transactions is getting delayed of failing. A bitcoin transaction accelerator is the perfect answer to this issue.

To track these bit coin transactions there is a block chain associated with each wallet which acts as a ledger file. The transactions are recorded and made available to a public ledger. This prevents any kind of fraud taking place in the transactions.

bitcoin transaction accelerator

Some times due to increase in the number of transactions taking place the bloc size reaches its limit leading to delay in the transactions. Now the question arises how do we speed up these transactions? The answer lies in a bitcoin transaction accelerator  which is available both for a free and for a small amount of fees as well. These accelerators help in avoiding the transactions getting stuck thereby improving the user experience. Over the years the trend of investing in bit coins has been on the rise but it being digital money and not being regulated by a centralized authority there are risks involved. Since these are completely digital they are at a risk of malware and hackers. Also the device on which the wallet is installed is lost then it would result in the stored currency being lost and cannot be recovered. Another risk involved is that since these are not regulated by any government body they are not insured by any government program as well. The whole concept of bit coins is quiet novel but with the risks involved the transactions should be made with utmost care.

You might also like More from author

Leave A Reply

Your email address will not be published.