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WuKong The Monkey King
@wukongblackmyth
Purpose: Bitcoin: Primarily designed as a digital currency and a store of value. Its main function is to facilitate peer-to-peer transactions without the need for intermediaries. Technology: Bitcoin: Utilizes a simple scripting language for transactions, which limits its programmability. It is primarily a ledger for tracking ownership of bitcoins. Consensus Mechanism: Bitcoin: Uses a Proof-of-Work (PoW) consensus mechanism, which requires significant computational power and energy consumption to validate transactions and secure the network. Supply: Bitcoin: Has a capped supply of 21 million coins, which creates scarcity and is designed to be deflationary. Transaction Speed and Fees: Bitcoin: Generally has slower transaction speeds and higher fees during peak usage times due to its block size and time constraints. Community and Development: Bitcoin: Has a more conservative development approach, focusing on security and stability.
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