People are not using Bitcoin because it's the most advanced or secure cryptocurrency, they use bitcoin because it was the first and will probably be the last to go whenever that whole flaming garbage bag of a "technology" hits the bin.
People are not using Bitcoin because it's the most advanced or secure cryptocurrency, they use bitcoin because it was the first and will probably be the last to go whenever that whole flaming garbage bag of a "technology" hits the bin.
- Permissionless chain. Anyone can join by just downloading software and start mining. Tbf it has moved beyond this quite a bit with ASICs but you can still validate.
- Fair launch (just filtering all cryptocurrencies on this criteria will result in ~10 or so)
- Devs, anyone can make a PR or write BIPs.
- No foundation/community/devs that extract a fee from the operation of the chain. Communities and companies operate outside of the Bitcoin network. - Hard cap on 21m coins.
Most others compromise on some of these to use less energy, be faster, enrich themselves, or all.
Wrong. Bitcoin has the most security because it has network effect. Most people hop onto the most secure chain, which is Bitcoin, which increases its security. That's what network effect in this context means.