The concept of Bitcoin was first put forward by Satoshi Nakamoto on June 5438+065438+ 10/day, 2008, and was officially born on June 5438+1 0/3, 2009. According to Satoshi Nakamoto's idea, open source software is designed and published, and a P2P network is built on this basis. Bitcoin is a P2P digital currency. Bitcoin transaction records are open and transparent. Point-to-point transmission means a decentralized payment system.

Unlike most currencies, Bitcoin is not issued by a specific monetary institution. It is generated by a large number of calculations according to a specific algorithm. Bitcoin economy uses the distributed database composed of many nodes in the whole P2P network to confirm and record all transaction behaviors, and uses cryptography to ensure the security of all aspects of currency circulation.

The decentralized nature of P2P and the algorithm itself can ensure that the currency can not be manipulated artificially and create a large number of bitcoins. The design based on cryptography can make bitcoin only transferred or paid by the real owner.

This also ensures the anonymity of currency ownership and circulation transactions. The total amount of bitcoin is very limited and scarce. The monetary system once did not exceed1050,000 for four years, and the total will be permanently limited to 21050,000.