Do you really know bitcoin? Let’s learn about bitcoin

Maybe we don’t quite understand bitcoin. What is bitcoin like or how it is traded? But most of us should have heard of bitcoin. So what is bitcoin? Let’s learn about it today. The concept of bitcoin was first proposed by a Japanese named Nakamoto on November 1, 2008. At the same time, bitcoin was officially born on January 30, 2009. At that time, the person named Nakamoto Cong, his design idea was to build a P2P network. In other words, bitcoin is a virtual cryptocurrency in the form of P2P. What is P2P? Point to point means a decentralized payment system. Unlike other currencies, bitcoin does not rely on a single institution to issue, it is based on a certain algorithm, after a lot of calculation. It uses a record of all behavior transactions which are composed of many nodes in the whole network. And use the password to determine the security of each link. However, based on the design of this password, bitcoin can be transferred or paid by the real owner. In this way, the currency has the nature of communication and anonymity. However, due to its limited number, it is extremely scarce. We can see from the price of bitcoin in 2020 that it is very volatile. And it’s often up and down. However, the legal payment of bitcoin is not widely accepted. So bitcoin is more owned by some investors or institutions, and it is not popular. Although this currency has increased a lot in recent two years, it is still full of huge bubbles, so the risk of investing in bitcoin is relatively large.

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