As we all Know that Bitcoin is a consensus network that enables a new payment system and completely digital money. there are lots of people who still don't know about it here i am not going much deeply about it. but today i am in this article going to tell you some basics thing about which everybody should to know. Actually Many People asked me about it so i decided to write this post on Bitcoin
#1. Who Created Bitcoin ?
Bitcoin is the first implementation of a concept "Cryptocurrency", Which was first described in 1998 by the "Wei Dai" on cypherpunks mailing list, Suggesting the idea of a new form of moneythat uses cryptography to control its creation and transactions, rather than a central authority. The First Bitcoin specification and proof of concept was published in 2009 in a cypherpunks mailing list by the " satoshi nakamoto" But the satoshi left the project in the late 2010 without revealing much about himself. The community has since grown exponentially with many developers working on Bitcoin.
Satoshi's anonymity often raised unjustified concerns, many of which are linked to misunderstanding of the open-source nature of Bitcoin. The bitcoin protocol and software are published openly and any developer around the world can review the code or can make their own modified version of the bitcoin software. as a current developers. satoshi's influence was limited to changes, he made being adopted by others and therefor he did not control Bitcoin. As such, The identity of Bitcoin's inventor is probably as relevant today as the identity of the person who invented paper.
#2. Control On The Bitcoin Network
you may get surprised to know that nobody owns the Bitcoin Network such as nobody owns technology behind Email. actually Bitcoin is controlled by all bitcoin users around the world. while developer are improving the software, they can not force or change in the bitcoin protocol because all users are free to choose that software and version they use. in order to stay compatible with each other, all users need to use software complying with same rules. Bitcoin can only work the correctly with the complete consensus among all users. therefore, all users and developers has strong incentive to protect this consensus.
#3. Bitcoin Work system
there are many new users of bitcoin who are still confused about Bitcoin's work system they do not know that so don't worry i will tell about it.
i inform you for your knowledge that Bitcoin is nothing more than Mobile app or computer computer program that provides a personal Bitcoin wallet and allow user to send and receive bitcoins with them.
Actually Bitcoin Network is sharing a public ledger call the "Block Chain", This ledger contains every transaction ever processed, allowing a users's computer to verify the validity of each transaction. The Authenticity of each transaction is protected by digital signatures corresponding to the sending addresses, allowing all users to have full control over sending bitcoins from their own bitcoin addresses, anyone can process transaction using the computing power of specialized hardware and earn a reward in bitcoins for this service.