Showing posts with label Blockchain. Show all posts
Showing posts with label Blockchain. Show all posts

Bitcoin

 What is Bitcoin?

Bitcoin is a digital currency created in January 2009. It follows the ideas put in the papers by the mysterious and (not the actual) Satoshi Nakamoto.1 The identity of the person or people who created the technology remains a mystery. Bitcoin offers a lower transaction fee than traditional online payment methods and, unlike government funds, is used by a lower authority.

Bitcoin is a form of cryptocurrency. There are no portable bitcoins, only the ratings kept on the public ledger everyone has open access. All bitcoin transactions are guaranteed by a large amount of computer power. Bitcoins are not issued or sponsored by any banks or governments, and individual bitcoins are not as valuable as assets. Although not a legal tender, Bitcoin is very popular and has led to the introduction of hundreds of other cryptocurrencies, collectively called altcoins. Bitcoin is often abbreviated as "BTC."

Automata Theory