What is Bitcoin (What does Bitcoin mean in Baidu Know)?
What is Bitcoin? According to official sources, Bitcoin is a type of open-sourc
What is Bitcoin? According to official sources, Bitcoin is a type of open-source cryptocurrency. It allows users to create, issue, and transfer wallet addresses (such as Bitcoin.org) and private keys that they control. It operates on the blockchain, allowing for transactions or asset transfers through smart contracts.
There have already been decentralized applications appearing, such as Binance Exchange, Huobi Mining Pool, OKEx, and various products developed based on the Ethereum protocol, among others.
What does Bitcoin mean in Baidu Know?
Bitcoin is a technology that transfers value through a peer-to-peer electronic cash system. Its basic principle is the issuance of currency on the blockchain. If one uses a coin or a series of numbers as a medium of exchange, it requires a technique of bookkeeping. Bitcoin, designed by Satoshi Nakamoto, can trace all users and data involved in network operations (such as miners and user addresses). It adopts a “distributed” consensus mechanism and ensures security and reliability through the anonymity provided by encryption technology.
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