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Bitcoin is a decentralized digital currency that you can buy, sell and exchange directly, without an intermediary like a bank. Bitcoinās creator, Satoshi Nakamoto, originally described the need for āan electronic payment system based on cryptographic proof instead of trust.ā Each and every Bitcoin transaction thatās ever been made exists on a public ledger accessible to everyone, making transactions hard to reverse and difficult to fake. Thatās by design: Core to their decentralized nature, Bitcoins arenāt backed by the government or any issuing institution, and thereās nothing to guarantee their value besides the proof baked in the heart of the system. āThe reason why itās worth money is simply because we, as people, decided it has valueāsame as gold,ā says Anton Mozgovoy, co-founder & CEO of digital financial service company Holyheld.
Telegramās stand out feature is its encryption scheme that keeps messages and media secure in transit. The scheme is known as MTProto and is based on 256-bit AES encryption, RSA encryption, and Diffie-Hellman key exchange. The result of this complicated and technical-sounding jargon? A messaging service that claims to keep your data safe.Why do we say claims? When dealing with security, you always want to leave room for scrutiny, and a few cryptography experts have criticized the system. Overall, any level of encryption is better than none, but a level of discretion should always be observed with any online connected system, even Telegram.
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