In short, bitcoin is a crypto currency with a high degree of security and protection, which prevents counterfeiting or duplicate transactions, based on blockchain technology capable of providing great secrecy and reliability, a decentralized electronic network that is almost impossible to penetrate or monitor.
Bitcoin is a peer-to-peer (or peer-to-peer) online currency, which means that all transactions take place directly between the same level and independent participants in the network, without the need for any intermediary to allow or facilitate transactions.
What is the bitcoin token?
Bitcoin stands for " p "or"฿ "just as some traditional currencies are symbolized by distinctive symbols such as" $ "for the dollar," € "for the euro, or" £ " for the British pound.
In this case, bitcoin is known as "BTC", or "BTC-USD", the latter denoting the value of bitcoin against the dollar since " USD " means the US dollar.
History of bitcoin
Bitcoin is, as mentioned above, a decentralized cryptocurrency, first revealed in the original, in the "White Paper" issued in 2008 by a person or group of people who used the pseudonym Satoshi Nakamoto, cryptocurrency news website CoinDesk reported.
This white paper and a set of information about this currency, reached a group of journalists, analysts and investors by email, by Nakamoto, who said that it aims to liberalize the global financial system.
Bitcoin was created, according to Nakamoto's own words, to allow online payments to be sent directly from one end to another without going through a financial institution. The coin was actually launched in January.
Some of the decentralized cryptocurrency concepts preceded bitcoin in theory, but bitcoin is the first cryptocurrency ever to be actually used, and it's also the most popular and most valuable currency now, according to CoinMarketCap, which tracks cryptocurrency values.
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Who is the founder of bitcoin?
As mentioned, behind the mysterious version of the digital currency is a mysterious developer, Satoshi Nakamoto, who does not even know if it is a person or group of people, and does not even know his nationality (however, some speculations consider him east Asian given the name).
However, several rumors have been raised about the true identity of the founder, and some reports and opinion articles have gone through in this aspect, billionaire Elon Musk has even been referred to as this mysterious person who secretly launched the coin, due to his superiority in programming and having a great mind and also to the availability of financial resources.