Bitcoin, also known as "",is an online virtual currency. Netizens can use bitcoin to buy some virtual items, such as clothes, hats and equipment in online games. It is also used by netizens to buy real items.

2. The origin of Bitcoin:

The concept of Bitcoin was first put forward by Satoshi Nakamoto in 2009. According to Satoshi Nakamoto's idea, open source software and P2P network were designed and released. Bitcoin is a P2P digital currency. 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.

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The principle of bitcoin:

From the essence of Bitcoin, the essence of Bitcoin is actually a special solution generated by a bunch of complex algorithms. Special solution refers to a set of infinite (in fact, bitcoin is limited) solutions that can be obtained through an equation group. And each special solution can solve the equation, which is unique.

Take RMB as an example. Bitcoin is the serial number of RMB. If you know the serial number on a bill, you will have this bill. The process of mining is to constantly seek the special solution of this equation group through huge calculation. This set of equations is designed to have only 2 1 million special solutions, so the upper limit of bitcoin is 2 1 million.

Reference: Baidu Encyclopedia-Bitcoin