Bitcoin is a decentralized digital currency that operates over a P2P network (Peer-to-Peer) that is based on the use of cryptographic tools to control security and privacy in the creation, use, and transfer of electronic money.
In the same way as any common currency, Bitcoin has an abbreviation to identify it in the markets: BTC.
Throughout the lesson, we will take the proper name Bitcoin to refer to the network and the protocol, while we will choose the name bitcoin or BTC to call the currencies with which the transactions are made.
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Bitcoin was initially created by Satoshi Nakamoto from an article published in 2008 and in which the Bitcoin protocol [ bitcoinPaper ] is described. The article explains the initial concepts of Bitcoin and proposes an outline of what is currently Bitcoin: an electronic payment system using the electronic currency. To date, and after numerous speculations nobody knows with certainty who or who are Satoshi Nakamoto since the only thing that is known is that it is a pseudonym behind which there could even be more than one person.
Shortly after the publication of the article, in early 2009 (03/01/2009) the Bitcoin network began with the issuance of the first block with which an initial reward of 50 BTC was granted.
The first client and digital portfolio were also released to operate with bitcoins (Bitcoin-Qt).
It is curious to note that the first transaction involving bitcoins was to pay for two pizzas in exchange for 10,000 BTC (which would currently be around the equivalent of about $ 8,500,000).
Below is the following sections, we will see an overview of Bitcoin, the network, how to carry out currency transfers and how to protect the privacy of users, as well as what mechanism Bitcoin implements to prevent the reuse of a currency ( double-spending ).
For this, we will first start by reviewing the basic cryptographic concepts on which bitcoin hardware wallet is based on Section 3.2. Later in Section 3.3, we will explain each of the parts that form the Bitcoin protocol and the services that surround it. Next, in Section 3.4 we will see a series of very interesting statistics referring to the computing capacity of the network, to continue with Section 3.5 where a series of criticisms or skepticisms towards digital currencies will be reasoned, both from the point of view Functional as from the economic and financial, and even political. Finally, in Section 3.6we will place a small emphasis on other alternative digital currencies to finish with the conclusions in Section 3.7.
In the same way as any common currency, Bitcoin has an abbreviation to identify it in the markets: BTC.
Throughout the lesson, we will take the proper name Bitcoin to refer to the network and the protocol, while we will choose the name bitcoin or BTC to call the currencies with which the transactions are made.
Bitcoin was initially created by Satoshi Nakamoto from an article published in 2008 and in which the Bitcoin protocol [ bitcoinPaper ] is described. The article explains the initial concepts of Bitcoin and proposes an outline of what is currently Bitcoin: an electronic payment system using the electronic currency. To date, and after numerous speculations nobody knows with certainty who or who are Satoshi Nakamoto since the only thing that is known is that it is a pseudonym behind which there could even be more than one person.
Shortly after the publication of the article, in early 2009 (03/01/2009) the Bitcoin network began with the issuance of the first block with which an initial reward of 50 BTC was granted.
The first client and digital portfolio were also released to operate with bitcoins (Bitcoin-Qt).
It is curious to note that the first transaction involving bitcoins was to pay for two pizzas in exchange for 10,000 BTC (which would currently be around the equivalent of about $ 8,500,000).
Below is the following sections, we will see an overview of Bitcoin, the network, how to carry out currency transfers and how to protect the privacy of users, as well as what mechanism Bitcoin implements to prevent the reuse of a currency ( double-spending ).
For this, we will first start by reviewing the basic cryptographic concepts on which bitcoin hardware wallet is based on Section 3.2. Later in Section 3.3, we will explain each of the parts that form the Bitcoin protocol and the services that surround it. Next, in Section 3.4 we will see a series of very interesting statistics referring to the computing capacity of the network, to continue with Section 3.5 where a series of criticisms or skepticisms towards digital currencies will be reasoned, both from the point of view Functional as from the economic and financial, and even political. Finally, in Section 3.6we will place a small emphasis on other alternative digital currencies to finish with the conclusions in Section 3.7.
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