How does bitcoin implement blockchain technology

1. bitcoin is a digital currency based on a specific algorithm. < blockquote >

bitcoin is equivalent to digital gold. As a generally recognized equivalent, gold naturally has monetary properties and has been regarded as a kind of currency since ancient times. Bitcoin was born in 2009 and created by a person named Nakamoto. As the earliest digital currency, it was worthless at the beginning of creation. Until 2017, the highest transaction price of bitcoin exceeded 30000 RMB. The reasons why bitcoin became a valuable digital currency are as follows:

first of all, it is like gold, as a natural mineral, The total amount of bitcoin is limited. Bitcoin can not be over issued according to its own algorithm, so there will be no rapid devaluation of currency e to excessive currency issuance. The number of bitcoin is controlled to no more than 21 million e to the algorithm, so it can not be issued in large quantities, so its value is guaranteed

2.

The price of a bitcoin soared from more than $20000 to $40000. This can not help but arouse my research interest, or simply understand what bitcoin is, what its mechanism looks like, and uncover its mystery. Therefore, after a simple search of some information and some understanding of the special currency, I sorted out the information on hand< (3) purpose: decentralize, rece risk

(3) only the central server can store and process data in the central network; Large amount of data storage; The central manager has great authority

all servers in the distributed network can store and process data, and each server has equal status, which can store more data and has higher security<
this is the general content of popular science. If you want to know more about it, you can take a look at Nakamoto's paper and the official popular science video below

3. Bitcoin is the practical application of blockchain

when the financial crisis broke out in 2008, a pseudonym named "Zhongben cong" published a paper to improve the story of Lao Wangcun based on blockchain Technology:

1) because bitcoin is global circulation, the "Yuan" in the story was changed into BTC, 100 yuan = 100btc

2) anonymity of bitcoin, Everyone in the story will announce how much money you have in your pocket to the world in the way of accounting. Presumably, everyone is not willing to put it into the account. Everyone in the bitcoin network has a wallet address, which is a code composed of several binary numbers

3) improvement of transaction mechanism and bookkeeping optimization

What are the current application scenarios of bitcoin< At present, the total market value of bitcoin is 967.236 billion, accounting for 50% of the total market value of cryptocurrency. If you are a 20-50-year-old Chinese and have a stable job, you know the news of bitcoin rising from 3000 to 8000 in half a month on the Internet hot search. At this time, you happen to see my article. Then you must think of one thing: should this thing be invested? And the risk

in my opinion, bitcoin is more suitable for fixed investment (if you invest a part of your salary in bitcoin every month, if you get 4000 salary, you can invest 300 at a fixed time point every month). In the cryptocurrency trading market, some people sell their houses because of bitcoin's sudden wealth, while others sell their houses because of speculation in bitcoin, The total market value of the cryptocurrency trading market is not large. There are indeed some experts, big and small, pulling the market, and the change is unpredictable. However, throughout the development of the past 10 years, cryptocurrency still presents a state of benign development, and more and more countries recognize it.

4. Bitcoin is a kind of digital currency based on blockchain technology
blockchain technology is a kind of e-money ledger system realized through point-to-point

5. With the advent of bitcoin, a new technology, blockchain, has come into the public view. What is the relationship between bitcoin and blockchain? The simplest understanding is: blockchain is the underlying technology of bitcoin, and bitcoin is the first generation application of blockchain. Therefore, we often see such a saying that "bitcoin represents the era of blockchain 1.0"

bitcoin is regarded as the first generation application of blockchain technology and the most thorough application of its code testing. However, without bitcoin, there might not be so many people who knew about blockchain now. It can be said that bitcoin has greatly improved the "exposure" of blockchain technology

later, people graally found that the application value of blockchain is far more than bitcoin, but can be applied to many instries to solve the pain points of many instries; The idea of blockchain can also provide a lot of reference for the financial field, which is the real reason for the outbreak of blockchain.

6. In the absence of a clear ban on mining, the fish pond will always serve the majority of miners.

7. It's better to put it in your wallet. It's safer. Unless the transaction is fully protected, if you forget your password one day, or the exchange can't log on, isn't it a failure

8. At present, there are many such teams, and the blockchain is suitable for all walks of life, but before the early cooperation, we must pay attention to the team strength and effect. The baker chain blockchain that we understand has a good evaluation in the instry, good reputation and good performance in all aspects. The evaluation of the instry is quite high.

9. 0.001 bitcoin, and how much RMB, is multiplied by the current price, for example, 17881, 1m bitcoin is equal to 17.881