In a report by Swiss multinational financial institution Credit Suisse, bitcoin and blockchain are deemed to be ‘relatively safe’. Bitcoin has some unique risks, the report noted. The value of the cryptocurrency has been three times more volatile than the price of oil and 11 times more than the post-Brexit exchange rate between the British pound and the U.S. dollar, according to the bank’s markets research department. Bitcoin transfers are also irreversible, so someone making a mistake entering an account number when making a payment will be out of luck. In addition, if a bitcoin user loses their private key, they can lose all their bitcoin. Blockchain’s Immune Structure Bitcoin’s blockchain architecture has demonstrated immunity to hacking risks. The blockchain is not an interconnected series of individual accounts, but a record of past transactions. When a user wants to transfer bitcoins, all computers running the bitcoin software process the sender...
Global Social Network broadcasting trends