Bitcoin (BTC) is the most widely used digital currency at present. It was born on January 3, 2009. It is a kind of digital cryptocurrency transmitted by P2P, with a total amount of 21 million. Bitcoin networks release a certain amount of money every 10 minutes, which is expected to reach the limit in 2140. Bitcoin is called "digital gold" by investors. Bitcoin is generated by a large number of calculations according to a specific algorithm and does not rely on the issuance of a specific currency institution. It uses a distributed database composed of many nodes in the entire P2P network to confirm and record all transactions, and uses cryptography design to ensure the safety of each link in currency circulation, which can ensure that the value of currency cannot be controlled artificially by a large number of bitcoin manufacturers. The design based on cryptography can make bitcoin only be transferred, paid and cashed by the real owner. It also ensures the anonymity of currency ownership and circulation transactions.
Decentralization: bitcoin is the first distributed virtual currency. The whole network is composed of users without central bank. Decentralization is the guarantee of bitcoin's security and freedom.
Worldwide circulation: bitcoin can be managed on any computer connected to the Internet. No matter where you are, anyone can dig, buy, sell or collect bitcoin.
Exclusive ownership: the private key is required to operate bitcoin. It can be stored in any storage medium in isolation. No one can get it except the user himself.
Low transaction cost: bitcoin can be remitted free of charge, but eventually a transaction fee of about 1 bit will be charged for each transaction to ensure faster execution of the transaction.
No hidden cost: as a means of payment from a to B, bitcoin has no cumbersome limit of quota and procedures. You can pay by knowing the bitcoin address of the other party.
Cross platform Mining: users can explore the computing power of different hardware on many platforms.
3. Detailed parameters:
Date of issue: November 1, 2008
Total issuance: 21 million
Total circulation: 17.35 million
Market value: 764.4 billion
Share of global total market value: 53.49%
Core algorithm: sha256
Consensus mechanism: pow
24 hour volume (global): 667100 BTC
IV. relevant links:
Official website white paper block query