What is Bitcoin?

Bitcoin is the first decentralized digital currency that operates without the intervention and supervision of intermediaries such as banks and the government. Bitcoin's structure is designed in such a way that it takes advantage of software and peer-to-peer (P2P) encryption; It means direct and unmediated communication between two network users. All transactions and its copies are recorded in a public ledger called blockchain and stored on servers around the world. Each person can start one of these servers through a computer, which is called a node. Through the consensus among nodes, a confirmation transaction and a block are made, and with the addition of blocks, a blockchain is formed. The Bitcoin network is designed in such a way that it encourages users to participate in the construction of this chain with the motivation of receiving rewards.

Bitcoin was unveiled by an unknown person in 2009 and was put into operation in 2010 by following its development path. Digital currency was initially a new concept and did not have many customers. But over time, its advantages became apparent: the high speed of transferring financial funds, remaining hidden from the eyes of governments, and the low cost of transfer.

Technical analysis of Bitcoin shows that it has great potential and is considered the most valuable digital currency today, but it was not very valuable at the beginning. Once its price was only $0.08 and it worked to the point where it will go up to $68,000 in 2021.#snor016