What is Bitcoin?

Bitcoin is the first decentralized cryptocoin ever built on top of a blockchain. It was created by an anonymous person or group of people with the nickname Satoshi Nakamoto in 2009 as an open source project.

To understand the Bitcoin blockchain we can imagine a book, where each page number contains a signature that can validate the content of that page and its previous one. This signature is computed by an algorithm known as SHA-256 and cannot be reversed. In other words we can calculate the A-256 signature from some content, but we can’t get content if we know its SHA-256 signature. Back to the example with the book: if we tear out a page from the book, we can easily understand that a page is missing. The same is with adding an inexistent page. All the pages are copied between members of the chain, and this is why the Bitcoin Blockchain is considered a distributed network.

Bitcoin is an open source project maintained by a developer team with over 580 active contributors. The code of the chain is available on Github. The main purpose of Bitcoin was decentralized but trusted, low fee money transactions between people and businesses around the world. Nowadays over 100.000 vendors accept Bitcoin for payments. And there are between 2.9 and 5.8 million unique users who actively use Bitcoin cryptocurrency wallets. The price of Bitcoin can be very volatile due to speculation and has changed in the past more than +/-20% during a single.


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  • Canadian cryptocurrency exchange Coinsquare claims that client data has been hacked.
    Coinbold – Crypto news – Crypto Market today – Crypto Market Cap – 42 minutes ago
    Coinsquare, which is one of the largest cryptocurrency exchanges in Canada, had recently reported that its exchange had experienced a data breach. The business, on…
  • Aave halts 17 Ethereum-based token lending markets
    Coinbold – Crypto news – Crypto Market today – Crypto Market Cap – 51 minutes ago
    The popular DeFi platform Aave temporarily halts lending markets for 17 Ethereum-based tokens comprising 5 stablecoins as the market situation of these assets is currently…
  • Matrixport is seeking $100 million at a valuation of $1.5 billion.
    Coinbold – Crypto news – Crypto Market today – Crypto Market Cap – 54 minutes ago
    Matrixport has the goal of raising $100 million and is now operating at a greater value. In addition, Matrixport Technologies Pte, which is also known…
  • El Salvador Opens National Bitcoin Office (ONBTC)
    Coinbold – Crypto news – Crypto Market today – Crypto Market Cap – 2 hours ago
    The government of El Salvador has formed a National Bitcoin Office, abbreviated as ONBTC, to monitor local initiatives linked to cryptocurrencies and digital assets in…
  • The Bahamas’ government criticizes FTX’s new CEO John Ray
    Coinbold – Crypto news – Crypto Market today – Crypto Market Cap – 2 hours ago
    While most people were preoccupied with the festivities of Thanksgiving, those involved in the cryptocurrency industry were still unable to get a break as the…