Bitcoin is a virtual cryptocurrency based on decentralization, which uses peer-to-peer network and initiative, open source code and blockchain as the underlying technology.
It was put forward by Satoshi Nakamoto in 2008 and was born in 2009. The biggest difference from other virtual currencies is that its total amount is very limited and it is scarce.
Unlike all currencies, bitcoin is not issued by a specific monetary institution, but is generated by a large number of calculations according to a specific algorithm. Bitcoin economy uses the distributed database composed of many nodes in the whole P2P network to confirm and record all transaction behaviors, and uses cryptography design to ensure the security of all links in currency circulation.