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The concept of Bitcoin was initially proposed by Satoshi Nakamoto in 2008. It is an open-source software designed and released based on Nakamoto's ideas, along with the construction of a P2P network. Bitcoin is a form of digital currency in a peer-to-peer (P2P) format. Peer-to-peer transmission implies a decentralized payment system. Unlike most currencies, Bitcoin is not issued by a specific monetary institution. It is generated through extensive calculations based on a specific algorithm. The Bitcoin economy uses a distributed database formed by numerous nodes in the entire P2P network to confirm and record all transaction activities. It also utilizes cryptographic design to ensure the security of currency circulation at all stages.
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