BITCOIN

Bitcoin is a cryptocurrency, a form of electronic money. It is a decentralized digital currency without a central bank or administrator that can be sent from one user to another in a peer-to-peer bitcoin network, without having to engage intermediaries.

Transactions are verified via network nodes using cryptography and stored in a large public book called Blockchain. Bitcoin was invented by an unknown person or a group of people under the name Satoshi Nakamoto and released in 2009 as open source software. Bitcoins were created to reward a process called mining. They can be exchanged for other currencies, products and services. The University of Cambridge study estimates that between 2.9 and 5.8 million unique users used a crypto purse in 2017, most with bitcoins.

Bitcoin has been criticized for its use in illegal transactions, its high power consumption, price volatility, stock market theft and the possibility that Bitcoin is a business bubble. Bitcoin was also used as an investment, although several regulators have sent investor warnings about Bitcoin.

The domain name "bitcoin.org" was registered on 18 August 2008. On October 31, 2008, a link to an article written by Satoshi Nakamoto titled Bitcoin: A was published on a cryptographic mailing list. electronic point-to-point payment system . Nakamoto implemented Bitcoin software as open source code and launched it in January 2009. The identity of Nakamoto remains unknown.

On January 3, 2009, the Bitcoin network was created when Nakamoto extracted the first block in the chain, the Genesis block. The following text has been incorporated into the coin of this block

The recipient of the first Bitcoin transaction was Cypherpunk Hal Finney, who created the first reusable job testing system (RPOW) in 2004. Finney loaded the Bitcoin software at the time of release and on January 12, 2009, a ten Bitcoin from Nakamoto. The other early followers of Cypherpunk were the creators of Bitcoin's predecessors: Wei Dai, creator of B-Money, and Nick Szabo, creator of the Goldbit. In 2010, the first known trade in Bitcoin took place when the programmer Laszlo Hanyecz bought two Papa John pizzas for 10,000 Bitcoins.

It is estimated that Nakamoto won one million bitcoins before disappearing in 2010 when he handed the network alarm key and code repository control to Gavin Andresen. Later, Andresen became the main developer of the Bitcoin Foundation. Andresen then tried to decentralize control. This provided the opportunity for controversy over the future development of Bitcoin.