2. Member nodes in the blockchain network do not rely on third parties (such as financial institutions) to arbitrate transactions. They use consistency protocol to negotiate the contents of the account book, and use cryptographic hash algorithm and digital signature to ensure the integrity of the transaction. Consistency: It can ensure that the account books of * * * are accurate copies, and reduce the risk of transaction fraud, because tampering needs to be carried out in many places at the same time.
3. Password hash algorithm: (such as SHA256 calculation algorithm) can ensure that any change to the transaction input-even the slightest change-will calculate different hash values, indicating that the transaction input may be damaged.
4. Digital signature: Ensure that the transaction comes from the sender (signed with private key) and not an impostor. A decentralized peer-to-peer blockchain network can prevent any single participant or a group of participants from controlling the underlying infrastructure or destroying the entire system. Participants in the network are equal and all abide by the same agreement. They can be individuals, national representatives, enterprises or a combination of the three. At its core, the system records the time sequence of transactions, and all nodes agree on the validity of transactions using the selected consistency model. This will make the transaction irreversible and acceptable to all members of the network.
The concept of 1 Bitcoin was first put forward by Satoshi Nakamoto in 2008 165438+ 10/,and was officially born in 2009 at 65438+1 0.
2. According to Satoshi Nakamoto's idea, design and publish open source software, and build P2P network on it. Bitcoin is a P2P digital currency. Bitcoin transaction records are open and transparent. Point-to-point transmission means a decentralized payment system.
3. Unlike most currencies, 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 total amount of bitcoin is very limited and scarce. The monetary system once did not exceed1050,000 for four years, and the total will be permanently limited to 21050,000.
4.2021June, El Salvador passed the El Salvador Bitcoin Act, making Bitcoin the legal tender of the country. On September 7th, Bitcoin officially became the legal tender of El Salvador, becoming the first country in the world to give digital currency legal status.
5.2021September 24th, the People's Bank of China issued a notice to further prevent and deal with the speculative risk of virtual currency transactions. The notice pointed out that virtual currency does not have the same legal status as legal tender.
6.202 1 year 1 1 month/day, the price of bitcoin hit a record high, approaching $69,000 each for the first time.