Future Transactions in The World

in steemcoinpan •  3 years ago 

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Since 2000, we understand various digital payment platforms, one of which is very well known until now is Paypal. Basically, a digital payment platform like PayPal is an intermediary between 2 parties who want to carry out transactions.

This intermediary acts like a party that is trusted by both parties to carry out verification of transactions, after which they carry out the recording and finally move funds from the initial party to the second party.

This digital payment platform like PayPal is actually similar to the organizer of ATM transactions between banks, such as ATM Bersama, Prima, Link, Cirrus, Alto, or Maestro.

Cryptocurance & Blockchain

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Until 2009, a mysterious form that used the name Satoshi Nakamoto launched a digital payment platform with the name Bitcoin. There are at least 2 fundamental issues that distinguish Bitcoin from traditional digital payment platforms such as PayPal.

Beginning, Paypal and the like are also intermediaries for electronic transactions using currencies that are commonly used every day. also applies to other international transactions, the currency standard that is usually accepted by the digital transaction platform is the US Dollar.

While this Bitcoin is a certain currency in digital form, which is located outside the currency system that is recognized and regulated by the world central bank. It has a fluctuating value. At this time the value of 1 Bitcoin is equivalent to USD 11219.90. to have Bitcoin can be tried with 3 systems: buy, get paid, or carry out mining or mining.

Surely mining here is not like we dredge the earth to mine gold. Mining for acquiring Bitcoin is tried by implementing a series of algorithms to dismantle a key that is used to verify a transaction.

Secondly, Bitcoin transactions do not require third parties such as Paypal, ATM Bersama, and others. To take over a third party, Bitcoin transactions are verified and recorded in an encrypted distributed system to ensure security. This distributed system is spoken with Blockchain, which will be explained later.

Because of its open source nature, the Blockchain platform conclusions were raised by many to create a variety of cryptocurrency, not just Bitcoin. One of the most not only Bitcoin is Ethereum. At this time both cryptocurrencies had a market capitalization approaching the figure of USD 70 billion.

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