What is Bitcoin? Read Before Buying!

What is Bitcoin?
Before you are interested to start buying Bitcoin because it is tempted by the high price, it's good to know more about Bitcoin understanding. Here Jaka will describe the complete information about Bitcoin for you.

History of Bitcoin
Bitcoin first came out in general in January 2009, hosted by Satoshi Nakamoto with the title of his scientific work "Bitcoin: A Peer-to-Peer Electronic Cash System".

Photo source: Image: Dorian Nakamoto
Satoshi Nakamoto himself is not a person's name, but an ID in an organizational forum that studies peer-to-peer technology. Some say that the owner of ID Satoshi Nakamoto is Dorian Nakamoto, but some say he is Charlie Lee the creator of Litecoin. But the fact is, NO KNOW!

Bitcoin's first transaction was made by Satoshi Nakamoto to a programmer named Hal Finney, which amounted to 10 Bitcoin. Then after that in 2010, Satoshi Nakamoto stopped developing Bitcoin and handed it over to Gavin Andresen who is currently the chief developer at Bitcoin Foundation.

Bitcoin's price was very cheap, 10 thousand Bitcoin for 2 pieces of Papa John's pizza. Interestingly Satoshi Nakamoto was pocketed 1 million Bitcoin loh. Where is the current value of AUTO RICH just the point!

Mining Bitcoin
As Jaka said before about what is Bitcoin, Bitcoin is not centralized (Decentralize) and is processed by many computers around the world or it can be referred to as Bitcoin miner. Where a high-specific computer functionalized calculate Bitcoin algorithm in reverse calculation.

Digital Blockchain Wallet Glide in Indonesia
In addition it also provides a customized corporate approval process that can reduce the possibility of human error and fraud.

If a private key holder can not perform his / her responsibilities due to unforeseen circumstances, the security system will provide protection and recovery mechanisms for the company's digital assets.

"ET hybrid chain is shown with effective scalability Based on hybrid blockchain-based technology architecture, ET hybrid chain has both public and private blockchain characteristics In public areas, basic data can be transmitted and processed safely and transparently," he added.

In private areas, sensitive data and financial data will be protected. In addition to privacy protection, private blockchain makes the process faster and more effective with transactions per second reaching 2,000, enabling many enterprise-level blockchain applications to operate permanently in hybrid blockchain ET.

According to the Head of the Batam Agency for Free Zone Authority (Lukman Dinarsyah Tuwo), the launch of the ET hybrid chain is an important strategic partner as Batam's Smart Digital Economy Initiative (SDEI).

"This is the progress of developing advanced EEC technologies with speeds beyond what we expect.I look forward to applications based on this cutting-edge hybrid blockchain technology that can be well implemented in the field of digital finance hub development, as well as the promotion of e-government infrastructure and services,