Who created Bit Coin?
Bit Coin is the first application of a concept called "cryptocurrency" or encrypted currency, which was first talked about in 1998 by Wei Dai in the mailing list of cypherpunks, the author's idea was centered around a new form of money that relied on encryption to control its creation and handling , A substitute for central authority. The first application and confirmation of the principle was published in 2009 on a mailing list for encryption by Satoshi Nakamoto. Satoshi "Satoshi" left the project in 2010 without explaining more about himself. The development of the community from time to time multiplied and many developers are working on the Coin.
The issue of secrecy over the real Satoshi character often highlights unfair doubts, many of which are linked to the misunderstanding of the open source nature of the Queen's judgment. The protocol and the Bitcoin program are open and any developer around the world can access the source code and make a modified version of the Bitcoin program. Just like the current programmers, Satoshi 's influence was limited by the changes he made and adopted by others. Satoshi does not control Bat Queen! In the same vein, the identity of the inventor of Bit Coin is likely to remain as the identity of the inventor of paper!
Who controls and manages the Bit Coin network?
No one has a Bit Coin network just like no one has the email technology. Bit Coin is controlled by all Bitcoin users from all over the world. As developers improve the program, they can not enforce a change in the Bitcoin protocol because all users have the freedom to choose which program and version they can use. In order to stay in harmony with each other, all users need to use programs that are in line with the same rules. Bit Coin can work well only when there is consensus and integration among all users. Therefore, all users and developers have the ability and motivation to adopt and protect this consensus.
How does Bit Coin work?
From the point of view of the user, bitcoin is nothing more than a mobile program or a computer program that provides a personal coin purse and allows the user to send and receive the Coins using it. This is how Bitcoin works for most users.
Behind the curtain, the Bitcoin network shares a common bridge called the "block chain" or block chain. The bridge contains every transaction that was sent one day, allowing each user's computer to verify the validity of each transaction. The validity of each transaction is protected by an electronic signature that corresponds to the sender's address, allowing all users to fully control the sending of the Coin Currencies through their Coin Curves. In addition, anyone can complete transactions using the computing power of specialized hardware and win prizes for their services. This is called "mining" or prospecting. To learn more about Bit Coin, you can see how Bitcoin works and how to work with Core Coin.
Is The Bitcoin Really Used By People?
Yes, there are a growing number of businesses and people using Bit Coin. This includes many diverse businesses such as restaurants, real estate, legal institutions, and famous Internet services such as Namecheap, WordPress, Reddit and Flattr. While bitcoin is still a relatively new phenomenon, it is growing rapidly. At the end of August 2013, the total value of available Coin Currencies for trading exceeded $ 1.5 billion with millions of Currencies being traded daily
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