In November 2008, a mysterious person, Nakamoto, who was unknown, published an article on a cryptography website to introduce an electronic cash transfer system of point -to -point. It is a unit called Bitcoin, and the virtual currency wind has blown up.
Bitcoin is a digital form of money. It is unique that it is not issued and controlled by a single company bank, or the government, but a distributed network is running. When you choose to enter the Bitcoin system, when you use Bitcoin, you are following a rule. The rules formulated by software, you enter a system that is managed by code, not a system managed by humans. Computers from the world form this system, which is equivalent to taking out bank accounting software and installation on many computers all over the world. This is Bitcoin.
Is we conduct a Bitcoin transaction, I will transfer you a bitcoin, and the miner will come to the account. There is a workload proof mechanism, which means that computers all over the world will compete Working and establishing a new block, the way of competition is to see which machine first solves a mathematical problem. Whoever solves this problem first can account for and establish a block to get a Bitcoin reward. This is the so -called called Bitcoin reward. Mining. That is, all computers are competing to build the next block. New blocks need to refer to the information of the previous block. This is how the blocks and chains are generated.
In November 2008, a mysterious person, Nakamoto, who was unknown, published an article on a cryptography website to introduce an electronic cash transfer system of point -to -point. It is a unit called Bitcoin, and the virtual currency wind has blown up.
Bitcoin is a digital form of money. It is unique that it is not issued and controlled by a single company bank, or the government, but a distributed network is running. When you choose to enter the Bitcoin system, when you use Bitcoin, you are following a rule. The rules formulated by software, you enter a system that is managed by code, not a system managed by humans. Computers from the world form this system, which is equivalent to taking out bank accounting software and installation on many computers all over the world. This is Bitcoin.
Is we conduct a Bitcoin transaction, I will transfer you a bitcoin, and the miner will come to the account. There is a workload proof mechanism, which means that computers all over the world will compete Working and establishing a new block, the way of competition is to see which machine first solves a mathematical problem. Whoever solves this problem first can account for and establish a block to get a Bitcoin reward. This is the so -called called Bitcoin reward. Mining. That is, all computers are competing to build the next block. New blocks need to refer to the information of the previous block. This is how the blocks and chains are generated.