Bitcoin is not issued by a specific monetary institution. It 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.
The decentralized nature of P2P and the algorithm itself can ensure that the currency can not be manipulated artificially and create a large number of bitcoins. The design based on cryptography can make bitcoin only transferred or paid by the real owner. This also ensures the anonymity of currency ownership and circulation transactions. The biggest difference between Bitcoin and other virtual currencies is that its total amount is very limited and extremely scarce.
Extended data
principle
From the essence of Bitcoin, the essence of Bitcoin is actually a special solution generated by a bunch of complex algorithms. Special solution refers to a set of finite solutions that can be obtained from equations. And each special solution can solve the equation, which is unique. Taking paper money as an analogy, bitcoin is the crown number of paper money. If you know the crown number on a bill, you will have this bill.
The process of mining is to constantly seek the special solution of this equation group through huge calculation. This set of equations is designed to have only 2 1 million special solutions, so the upper limit of bitcoin is 2 1 million.
To exploit bitcoin, you can download a special bitcoin computing tool, then register various cooperation websites, fill in the registered user name and password in the computing program, and then click the operation to officially start. After completing the installation of the bitcoin client, you can directly obtain a bitcoin address. When others pay, you only need to post the address to others, and you can pay through the same client.
After installing the Bitcoin client, it will assign a private key and a public key. You need to back up the wallet data containing the private key to ensure that the property will not be lost. If the hard disk is unfortunately completely formatted, personal bitcoin will be completely lost.
Baidu Encyclopedia-Bitcoin