Bitcoin is a worldwide cryptocurrency and digital payment system called the first decentralized digital currency, as the system works without a central repository or single administrator.It was invented by an unknown person or group of people under the name Satoshi Nakamoto and released as open-source software in 2009. The system is peer-to-peer, and transactions take place between users directly, without an intermediary. These transactions are verified by network nodes and recorded in a public distributed ledger called a blockchain.

Bitcoins are created as a reward for a process known as mining. They can be exchanged for other currencies, products, and services. As of February 2015, over 100,000 merchants and vendors accepted bitcoin as payment. Bitcoin can also be held as an investment. According to research produced by Cambridge University in 2017, there are 2.9 to 5.8 million unique users using a cryptocurrency wallet, most of them using bitcoin.


Ethereum was proposed in late 2013 by VitalikButerin, a cryptocurrency researcher and programmer. Development was funded by an online crowdsale between July and August of 2014.The system went live on 30 July 2015, with 11.9 million coins "premined" for the crowdsale. This accounts for approximately 13 percent of the total circulating supply.

In 2016 Ethereum was forked into two separate blockchains, as a result of the collapse of The DAO project, thereby creating Ethereum Classic. The new forked version was Ethereum (ETH) and the one that continued its existence is Ethereum Classic (ETC).

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