Byzen Digital is a new player in the global Crypto market
We recognise many of the current difficulties for Crypto traders (or want-to-be traders) that exist today, be it liquidity, security or the desire to trade in either a centralised or de-centralised environment via the same portal, or even some very obvious questions such as “how do I get started..” or “what is the Blockchain” ?
Byzen realises that for the majority of people, trading or spending Crypto currencies and utilising the Blockchain can be a confusing and often daunting process, especially for those new to Crypto technology or Blockchain in general.
We wish to enable you, the individual, to become fully educated in what Crypto-currencies and Blockchain are, and to be able to trade in a safe and liquid environment of your choosing.
The concept of “Crypto Currency” was first described in 1998 by Wei Dai on the cypher punks mailing list, suggesting the idea of a new form of money that uses cryptography to control its creation and transactions, rather than a central authority. The first Bitcoin specification and proof of concept was published in 2009 in a cryptography mailing list by Satoshi Nakamoto. Satoshi left the project in late 2010 without revealing much about himself. The community has since grown exponentially with many developers working on Bitcoin.
Even though it was introduced in 2009, the digital currency Bitcoin caught the interest of the mainstream media only in 2012. Due to its supposed anonymity, Bitcoin and other digital currencies are often compared to cash. However, unlike cash, these currencies are purely digital and used primarily online. Digital currencies have the potential to compete against other online payment methods such as credit/debit cards and PayPal.
It is possible that Bitcoin and other digital currencies may have a large long-term effect on both currency and payments systems, but these currencies are currently in their infancy. It is the first decentralized peer-to-peer payment network that is powered by its users with no central authority or middlemen.
Bitcoin and the other digital currencies are decentralized systems; i.e., they have no central authority. They use cryptography to control transactions, increase the supply and prevent fraud. Hence, they often are referred to as crypto-currencies. Once confirmed, all transactions are stored digitally and recorded in a `blockchain,’ which can be thought of as an accounting system. Network nodes validate payments. Sometimes, as in the case of Bitcoin, powerful, expensive computers are needed for the process.