July 1, 2020 12:35 am

Is Bitcoin Still The Most Secure Cryptocurrency: Finding The Most Reliable Solution

Nowadays, users choose services and systems with the highest level of data security. When choosing a blockchain-backed system, people rely on the high level of its security, but unfortunately, by far not all platforms can guarantee complete privacy of user data due to a specific set of security issues.

Bitcoin is still well-known as the most reliable cryptocurrency with the maximal size of investments and a highly secured network, which eliminates the high transaction cost and limited usefulness for smaller payments. A common phrasing is that “you’re paying more for security.” In this way, Bitcoin is predominantly seen as a store of value rather than an e-cash in 2020.

However, in the case of other indicators, Bitcoin has long ceased to be a leader. For example, according to the first cryptocurrency reliability rating in history, compiled by US-based financial agency Weiss Ratings in 2018, the first place was taken not by Bitcoin, but by its main competitor – Ethereum ETH, -1.20%. Despite its popularity and credibility, Bitcoin remains too volatile and its level of security leaves much to be desired. In addition, the high fee cost and low speed of transactions have been hindering it for many years already.

Solving The Bitcoin Network Issues

The problems of Bitcoin are known to the entire crypto community and for many years, work and research have been ongoing to make blockchains safer, faster and more reliable than the Bitcoin blockchain. A Bitcoin transaction could often……………


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Author: Coincodex
Original link: https://coincodex.com/article/8740/is-bitcoin-still-the-most-secure-cryptocurrency-finding-the-most-reliable-solution/

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