Satoshi Nakamoto, a group of people conceptualized the idea of Bitcoin. The main motive behind it was the decentralization of currency, to make it resistant to corruption. It does not require a lot of hassle and human interference since it is an automated encryption-decryption method.
The understanding of bitcoin!
Bitcoin was the first ever idea of cryptocurrency to be implemented and is thriving with every passing day and advancement in the technology of Blockchain.Like all great things, it has serious drawbacks in terms of trails and intention of usage. Bitcoin has faced legal backlash due to its misuse in many illegal activities. Although numerous businesses and people use Btc for clean work, it is also used for conducting transactions without leaving any crumbs to trace back to the sender or follow to the receiver, owing to the fact that encrypted code is a meaningless string of hashes and timestamps without the decryption key.
One might ask, what is the solution to a problem that revolves around the inception of the concept of Bitcoin? The answer to this question and the real-time issue is still nascent. The purpose of Bitcoin is to avoid manipulation to the extent that the possibility is improbable; therefore privatizing the data dilutes the authentic identity of the concept. To combat the opacity of transactions, Bitcoin is public and transparent. The records are traceable and are permanently stored in the systems. And once an identity is marked, its track record is forever tarnished.