The story of bitcoin
Bitcoin is an electronic money made in 2009 by
Satoshi Nakamoto. The name is also associated with the open source software that he designed, and also uses a peer-to-peer network without centralized storage or a single administrator where the US Treasury calls the bitcoins of a decentralized currency. Unlike most common currencies, bitcoin does not depend on trusting major publishers. Bitcoin uses a database that is distributed and spreads to the nodes of a P2P network to a transaction journal, and uses cryptography to provide basic security functions, such as ensuring that bitcoins can only be spent by people owning them, and never be done more from one time.
Bitcoin logo
The bulk of the Transaction is verified and protected by decentralized peer-to-peer networks. [1] Introduced3 January 2009International UsersPrinting25BTC every ten minutes SourceTotal BTC in Circulation MethodNew Bitcoin value will be reduced by half every four years until it reaches 21 million BTC [2]: 17Subsatuan .00000001satoshi [ 3] Symbol BTC, XBT, [4] ฿ (same as baht symbol), [5] Ƀ [6]
Explanation of Bitcoin
The design of Bitcoin allows for anonymous ownership and transfer of wealth. Bitcoin - bitcoin can be stored on a personal computer in a wallet file format or stored by a third party wallet service, and apart from all that bitcoin can be sent over the internet to anyone with a Bitcoin address. The peer-to-peer bitcoin topology and the lack of a single administration make it impossible for any governmental authority to manipulate the value of bitcoin - bitcoin or cause inflation by producing more bitcoin.
Bitcoin is one of the first implementations of the so-called cryptocurrency, first described by Wei Dai in 1998 in the cypherpunks mailing list. [7]
Overview
Technical
Economics
Legality of use
See also
Reference
External links
