Peer-to-peer network
Content
Bitcoin is an open network all over the world. As long as you have a server, you can join this network and become a node. Each node contains the entire blockchain (currently more than 100 GB), and the nodes are constantly synchronizing information.
When you make a payment, your node will tell the transaction to another node until it spreads throughout the network. Miners collect various new transactions from the Internet, package them and write them into the blockchain. Once the write is successful, the blockchain of the node where the miner is located becomes the latest version, and other nodes will copy the newly added blocks to ensure that the blockchains of the entire network are consistent.
Finally, the node you are at has also got the latest block chain, so you know that your earlier transaction has been written in it, and the transaction has been confirmed successfully.
- There is one more question
At this point, I have finished introducing the basic knowledge of Bitcoin. I hope you have understood what Bitcoin is all about. But there is a fundamental question that I did not answer: what is the nature of Bitcoin?
In the final analysis, Bitcoin is just a record of the blockchain. It is generated out of thin air. Why can it be used as money? For example, if a miner receives a reward of 12.5 bitcoins, it actually means that the blockchain has a record: "xxx address received 12.5 bitcoins". It was this line of records that caused the miner to get a lot of money. If the blockchain suddenly adds a record stating that your address has received 1,000 bitcoins, you will really have 1,000 bitcoins. what is this?