Want to know about bitcoin...?

 Bitcoin is a cryptocurrency or a digital currency that is used and distributed electronically. It is a decentralized peer-to-peer network. No single institution or person controls it. The coin uses protocols of cryptography for regulation and generation of units of currency. But falls under the top cryptocurrency and it was first most valuable coin among them.

Who Created Bitcoin?

The term bitcoin was first introduced in a white paper in 2008 by Satoshi Nakamoto.

The creator of Btc is still unknown. Basically, Satoshi Nakamoto is a pseudonym that may represent a person or a team.

It sounds weird, right? But yes!! It’s true, the world knows only one name behind this revolutionary cryptocurrency i.e. btc. There is no exact information about the founder of Btc. It’s still a mystery whether Satoshi Nakamoto is the name of individual or group.

The basic idea behind Btc came to light when peer-to-peer networking and cloud computing emerged in data storage and management. Previously, the security and maintenance of such networks were handled by huge corporations which were looking to make a profit. Bitcoin’s documentation, on an abstract level, was a proposal to transfer the maintenance work and security to external, anonymous crowd contributors. And thus, bringing about a decentralized and democratic shift in these industries.

How Does Bitcoin Work?

Now, when you know what is bitcoin? You might be eager to know how exactly the coin works. Well, here you go… Let me elaborate in a simple and easy way!!

So, each BTC is basically a computer file which is stored in a digital wallet app on a computer or smartphone.  You can send BTC to your digital wallet, and/or you can send BTC to other people. Normally, every single transaction is recorded in a public list called blockchain. Thus, this helps in tracing the history of Btc to stop people from spending coins they do not own, making copies or undoing transactions.

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