In the realm of cryptography, the digital medium of Bitcoin has already established its name. Having been in the cryptocurrency competition for the last 10 years, it has established itself to be reliable. It is known to be the best at transactions in the digital network. The relevance of Bitcoin maximalism is also increasing due to the rapid advancements being made by the network contributors. While opposing the very existence of other Cryptocurrencies seems a little unfair in nature, they also have upgraded themselves to be in fair competition with Bitcoin.
For any digital financial medium to be a success, one of its main features has to be security. It is surprising to note that even by being the largest, still thriving network, Bitcoin hasn’t till date been hacked. Astonishing, isn’t it? With its hash rate being 52 quintillions per second in comparison, it is a very secure blockage. Not just that, its security will only increase with the increasing hash rate.
Decentralization at its maximum
Unlike the normal fiat financial transactions, there is no central authority crowding and controlling Bitcoin. It is a decentralized system where if more network builders wish to improve the medium, they are not restricted in any manner. It should also be noted that they do not receive much monetary returns. It is purely out of interest that they wish to improvise the system. Hence, there is just an increasing profit to the network.
With respect to the overall quantity of market cap, Bitcoin’s dominance is noted to be more than 50% in the market. Considering there are 2000 other Cryptocurrencies, Bitcoin has fairly subjugated the market.
The development of an improvised layer on the base has increased the speed to a large extent. So much so that it is capable of a million transactions safely, per second. So you should also consider the speed of the platform you purchase your Bitcoin from. Buy bitcoin online at Quebex will only take five minutes.
Though, when it comes to stability, normal fiat money and Bitcoin cannot be compared. The former has the upper hand. However, Bitcoin stands the most stable when in competition with other Cryptocurrencies. Its price range change needs a higher number of transactions.
So to opt for Bitcoin maximalism as an individual is your choice. But Bitcoin is growing at a very high pace no matter what!