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Bitcoin

Bitcoin

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What is Bitcoin ?

Bitcoin is a cryptocurrency, a virtual currency designed to act as money and a form of payment that is not controlled by a person, group or entity, thereby removing the need for third parties to participate in financial transactions. It rewards blockchain miners for the work done in verifying transactions and can be bought on multiple exchanges.

Bitcoin was introduced to the public in 2009 by an unknown developer or group of developers named Satoshi Nakamoto. Since then, it has become the most popular cryptocurrency in the world. Its popularity has inspired the development of many other cryptocurrencies. These competitors will try to replace it as a payment system or use it as a tool or security token in other blockchains and new financial technologies.

More informations about Bitcoin
August 2008: The Bitcoin.org domain was registered. At least this domain is protected by WhoisGuard, which means that the identity of the person who registered it is not public information.
 
October 2008: A person or group using the name Satoshi Nakamoto announced on the Cryptography Mailing List at metzdowd.com: “I am working on a new electronic cash system that is completely peer-to-peer, with no third party trust.” This now famous white paper published by Bitcoin.org titled “Bitcoin: A Peer-to-Peer Electronic Cash System” may be the Magna Carta of how Bitcoin works today.
 
January 2009: The first Bitcoin block was mined – block 0. It is also known as the “genesis block” and includes the text: “The Times 03/Jan/2009 Chancellor on verge of second bailout for banks,” possibly proof that the block was mined on the date or later, and perhaps also as relevant political commentary.
 
Bitcoin rewards are split in half every 210,000 blocks. For example, the block reward was 50 new bitcoins in 2009.
 
May 2020: A third increase took place, bringing the reward for each block discovery to 6.25 bitcoins.
 
A bitcoin is divided into eight decimal places (100 million bitcoins) and this smallest unit is called a satoshi. If needed, and if participating miners accept the change, Bitcoin can eventually be split into multiple decimal places.
Who is Satoshi Nakamoto ?
Satoshi Nakamoto is the name used by the supposed pseudonymous person or persons who developed Bitcoin, wrote the Bitcoin White Paper, and created and deployed the original implementation of the Bitcoin reference. As part of the implementation, Nakamoto also created the first blockchain database. Nakamoto was active in Bitcoin development until December 2010.
 
There is widespread speculation about the true identity of Satoshi Nakamoto, with various people posing as the person or persons behind the name. One person, Australian computer scientist Craig Steven Wright, has publicly claimed to be Nakamoto, although this claim has been met with skepticism. Although Nakamoto’s name is Japanese and he stated in 2012 that he was a person living in Japan, most of the speculation involved software and/or cryptography experts in the United States or Europe.
 
Who you think is the real Satoshi Nakamoto and why ?
who is Satoshi Nakamoto

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Bitcoin

August 22, 2022

What is Bitcoin ? Bitcoin is a cryptocurrency, a virtual currency designed to act as money and a form of payment that is not controlled

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