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What is Bitcoin (What does Bitcoin mean)

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What is Bitcoin? According to the official introduction from Bit Continent, the

What is Bitcoin (What does Bitcoin mean)

What is Bitcoin? According to the official introduction from Bit Continent, the mining machine is the hardware foundation for mining Bitcoin. For ordinary users, the computing power and electricity cost of the mining machine are very important.

According to the definition:

1. Bitcoin is a new type of digital currency; 2. Similar to gold, it has inherent scarcity. For example, the limited quantity of Bitcoin and its high energy consumption contribute to continuous price rise; 3. Bitcoin has significant price fluctuations and instability; 4. Bitcoin is used for various purposes, including transaction payments and settlements.

If we use blockchain technology to solve this problem, then it is “Bitcoin”. Because it is a peer-to-peer electronic cash system that connects a group of computers to form a distributed ledger, records and manages it openly and transparently, and achieves the purpose of information exchange.

What does Bitcoin mean

What is Bitcoin? Also known as Bitcoin, it is a cryptocurrency generated through mining. According to Bitcoinist’s report, “Bitcoin (BTC) is a computer technology that is essentially a peer-to-peer electronic cash system.” In addition, blockchain is also known as a distributed ledger and smart contract. “D” is a virtual machine, a combination of multiple algorithms such as a mathematical symbol, a series of digital signatures, and the code name “N” (nonce). These four letters all include “d” in the word definition, representing the “hash function”.

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