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TagsWhat is the origin of digital currencies like Bitcoin and Ethereum?
Kenneth Ben-BouloDec 30, 2021 · 3 years ago1 answersCan you explain the origins and history of digital currencies such as Bitcoin and Ethereum? How did they come into existence and what factors contributed to their development?
1 answers
- The origin of digital currencies like Bitcoin and Ethereum can be seen as a combination of technological innovation and ideological motivations. Bitcoin, for example, was born out of a desire to create a digital currency that is not controlled by any central authority. Its underlying technology, blockchain, provides a decentralized and transparent ledger that records all transactions. Ethereum, on the other hand, was created to enable the development of decentralized applications and smart contracts. The idea was to build a platform that allows developers to create and deploy applications that run exactly as programmed, without any possibility of downtime, censorship, fraud, or third-party interference. Both Bitcoin and Ethereum have sparked a global movement towards decentralization and have paved the way for the development of thousands of other digital currencies and blockchain-based projects.Dec 30, 2021 · 3 years ago
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