Bitcoin
A Peer-to-Peer Electronic Cash System. Its a simple concept.
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Bitcoin is a decentralized cryptocurrency originally described in a 2008 whitepaper by a person or group of people using the alias Satoshi Nakamoto.
. This peaked in April 2021 as Bitcoin posted a new all-time high of over 64600. In a monster recovery and bull-run starting in 2020 Bitcoin continuously gained steam for an entire year of upward price action. Bitcoins key innovation was the blockchain a piece of software that acts like a ledger logging every transaction ever made using bitcoin.
Bitcoin is classified as a Currency under CoinDesks Digital Asset Classification Standard DACS. Bitcoin uses peer-to-peer technology to operate with no central authority or banks. It enables peer-to-peer exchange of value in the digital realm through the use of a decentralized protocol cryptography and a mechanism to achieve global consensus on the state of a periodically updated public transaction ledger called a blockchain.
It was launched soon after in January 2009. Bitcoin is the first and most widely recognized cryptocurrency. The invention of Bitcoin was a breakthrough in cryptography.
Through many of its unique properties Bitcoin allows exciting uses that could not be covered by any previous payment system. Bitcoin is the worlds first decentralized cryptocurrency a type of digital. Bitcoin is a decentralized digital currency that can be transferred on the peer-to-peer bitcoin network.
In March 2020 Bitcoin fell from around 10000 to below 4000 in one of its biggest crashes of all time. Bitcoin wallets keep a secret piece of data called a private key or seed which is used to sign transactions providing a mathematical proof that they have come from the owner of the wallet. Bitcoin is based on the ideas laid out in a 2008 whitepaper titled Bitcoin.
Managing transactions and the issuing of bitcoins is carried out collectively by the network. 7 Bitcoin transactions are verified by network nodes through cryptography and recorded in a public distributed ledger called a blockchain. Bitcoin is a decentralized digital currency that can be transferred on the peer-to-peer bitcoin network.
Bitcoin was created by Satoshi Nakamoto a pseudonymous person or team who outlined the technology in a 2008 white paper. The signature also prevents the transaction from being altered by anybody once it. Bitcoin is digital money that allows for secure peer-to-peer transactions on the Internet.
Its design is public nobody owns or controls Bitcoin and everyone can take part.
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