Bitcoin: Difference between revisions
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'''Bitcoin''' (abbreviation: '''BTC'''; [https://cryptologos.cc/ ₿]) is a [https://www.bbc.co.uk/bitesize/articles/zfsvy9q digital currency] with no physical existence. Unlike traditional currencies, it operates without central control or banks. Transactions occur over a decentralized network of thousands of interconnected computers, known as nodes. | |||
Based on early concepts of digital money, the origins of cryptocurrency trace back to 1983, when David Chaum introduced eCash and launched Digicash in 1989. | |||
In 2008, [https://www.investopedia.com/terms/s/satoshi-nakamoto.asp Satoshi Nakamoto] published [https://bitcoin.org/bitcoin.pdf Bitcoin: A Peer-to-Peer Electronic Cash System], introducing blockchain technology and decentralization. Bitcoin’s network launched in 2009 with the mining of the Genesis Block. | |||
Key milestones were achieved: the first real transaction on May 22, 2010; surpassing $1 in 2011; and widespread recognition by 2013. From 2021 to 2025, Bitcoin achieved global legitimacy through SEC approvals of ETFs, PayPal integration, and U.S. regulatory frameworks under [https://www.analyticsinsight.net/biography/donald-trump Donald Trump]. | |||
Bitcoin transactions occur on a decentralized blockchain network where users transfer digital currency between wallets. Verified by miners using [https://www.geeksforgeeks.org/computer-networks/cryptography-and-its-types/ cryptography] and [https://www.investopedia.com/terms/p/proof-work.asp proof-of-work], each transaction ensures transparency, security, and independence, allowing peer-to-peer payments without banks or intermediaries. | |||
Additional reference for CBDCs context: [https://www.analyticsinsight.net/finance/central-bank-digital-currencies-cbdcs-a-new-era-of-digital-money Central Bank Digital Currencies]. | |||
CBDCs context | |||
Revision as of 10:53, 18 November 2025
| Bitcoin | |
|---|---|
| |
| Commonly used logo of bitcoin | |
| Denominations | |
| Plural | Bitcoins |
| Symbol | ₿ (Unicode: U+20BF ₿ BITCOIN SIGN) |
| Code | BTC |
| Precision | 10⁻⁸ |
| Subunits |
59 Markets.com, “Crypto market analysis: What are the features of cryptocurrency?” Archived. Retrieved October 2025 |
| Development | |
| Original author | Satoshi Nakamoto |
| White paper | Bitcoin: A Peer-to-Peer Electronic Cash System |
| Implementation | Bitcoin Core |
| Initial release | 0.1.0 / 9 January 2009 (16 years ago) |
| Latest release | 30.0.0 / 11 October 2025 (34 days ago) |
| Code repository | GitHub |
| Development status | Active |
| Written in | C++ |
| Source model | Free and Open Source Software |
| License | MIT Licence |
| Ledger | |
| Ledger start | 3 January 2009 (16 years ago) |
| Timestamping scheme | Proof of work (partial hash inversion) |
| Hash function | SHA-256 (two rounds) |
| Issuance | Decentralized (block reward), Initially ₿50 per block, halved every 210,000 blocks |
| Block reward | ₿3.125 (as of 2025) |
| Block time | 10 minutes |
| Circulating supply | ₿19,934,271 (as of 14 October 2025) |
| Supply limit | ₿21,000,000 |
| Valuation | |
| Exchange rate | Floating |
| Website | bitcoin.org |
Bitcoin (abbreviation: BTC; ₿) is a digital currency with no physical existence. Unlike traditional currencies, it operates without central control or banks. Transactions occur over a decentralized network of thousands of interconnected computers, known as nodes.
Based on early concepts of digital money, the origins of cryptocurrency trace back to 1983, when David Chaum introduced eCash and launched Digicash in 1989.
In 2008, Satoshi Nakamoto published Bitcoin: A Peer-to-Peer Electronic Cash System, introducing blockchain technology and decentralization. Bitcoin’s network launched in 2009 with the mining of the Genesis Block.
Key milestones were achieved: the first real transaction on May 22, 2010; surpassing $1 in 2011; and widespread recognition by 2013. From 2021 to 2025, Bitcoin achieved global legitimacy through SEC approvals of ETFs, PayPal integration, and U.S. regulatory frameworks under Donald Trump.
Bitcoin transactions occur on a decentralized blockchain network where users transfer digital currency between wallets. Verified by miners using cryptography and proof-of-work, each transaction ensures transparency, security, and independence, allowing peer-to-peer payments without banks or intermediaries.
Additional reference for CBDCs context: Central Bank Digital Currencies.