Posted on In Application Layer Protocols, Blockchain, Cryptocurrency

The world’s first cryptocurrency and blockchain network without requiring a trusted third party for electronic peer-to-peer BTC transactions. BTC is the cryptocurrency on the Bitcoin network.

The BTC was invented in 2008 by Satoshi Nakamoto which is an unknown person or a group of people. The implementation was released as open-source software and the usage starts in 2009.

Bitcoin blockchain is based on the Proof of Work (PoW) decentralized concensus protocol to ensure the decentralization of the blockchain. The BTC coins are the rewards to the miners for the Mining works to build blocks for the Bitcoin blockchain network.

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