What is bitcoin? Overview and bitcoin yield
Bitcoin (BitCoin) is a network called “new ideas about the electronic digital currency Nakamoto” netizens put forward in a particular forum in 08 years, and launched in 09 years.
What is bitcoin
Bitcoin is a virtual currency to the center, it is not the central bank and the third parties involved in the issue, attached to the block chain technology based on global to the center of the network system.
As a kind of establishment in the global block chain network digital currency bitcoin, the normal operation of the circulation depends on the block chain network. Bitcoin transaction information is not affected by any organization or individual control, in theory to ensure any person, institution, or government can not tamper with the bitcoin transaction content on both sides.
Bitcoin has monetary property contains characteristics and self perfection of monetary payment system.
Bitcoin is a completely decentralized monetary system through a large amount of calculation of a specific algorithm, when bitcoin was born in 2009, the node block chain “accounts” victory, get bounty 50 bitcoin. In accordance with the design of “Nakamoto bitcoin blockchain, every 10 minutes will be the birth of a block. Then bitcoin takes approximately every 10 minutes at a rate of 50 growth.
When the total reached 10 million 500 thousand (21 million 50%), bounty halved to 25. When the total reached 15 million 750 thousand (5 million 250 thousand new output, i.e. 1050 of 50%), then the bounty halved to 12.5.
The calculation process is called bitcoin mining, the amount of money according to the predetermined design rate gradually increased, the increase speed gradually slowed down, and eventually reached the limit of 21 million in 2140.
Get bitcoins, simply to get stress by bitcoin mining machine with 10 minutes, the whole network is currently producing 25 bitcoin.
In common sense, bitcoin is like a total of 21 million gold coins by the composition of the Jinshan, you want to get it, you need to use computer game player operation capability, calculated with a set of specific rules according to the designer’s digital algorithm.
Of course, the math problem is more and more difficult, 09 years from now, BT currency yield is about 10 million 400 thousand, the existing quantity increasing, the more difficult it is to output.
Bitcoin is the use of distributed database throughout the bitcoin block chain network node to record the currency trading, to design and use of cryptography to ensure the safety of all aspects of the circulation of money. For example, bitcoin can only be its true owner, but only once, pay after the completion of the original owner lost ownership of the share of bitcoin.