Bitcoin
Bitcoin and Blockchain Technology 1. Introduction The development of digital technology has brought major changes to the global financial system. One of the most important innovations is Bitcoin, the first cryptocurrency introduced by Satoshi Nakamoto in 2009. Bitcoin runs on a technology called Blockchain, a decentralized digital ledger system. This paper will explain the basic concepts of Bitcoin, how Blockchain works, and its impact on the modern world. --- 2. Bitcoin Bitcoin is a digital currency that: Is not controlled by governments, banks, or any single institution. Can be used for peer-to-peer (P2P) transactions directly over the internet. Has a total supply limited to 21 million coins, giving it a deflationary nature. Advantages of Bitcoin: 1. Transparency (all transactions are recorded on the blockchain). 2. Security (uses cryptography). 3. Impossible to counterfeit. 4. Accessible to anyone with an internet connection. 3. Blockchain Blockchain is a distributed ledger technolo...
