Bitcoin network

The bitcoin  is a  payment  that operates on a  .

Users send and receive bitcoins, the units of , by broadcasting digitally signed messages to the using bitcoin   .

Transactions are recorded into a distributed, replicated  database known as the , with consensus achieved by a proof-of-work  called .

Satoshi Nakamoto, the of bitcoin, claimed that and coding of bitcoin began in 2007.

The project was released in 2009 as open source software.

The requires minimal structure to share transactions.

An ad hoc  of volunteers is sufficient.

Messages are on a best-effort basis, and can leave and rejoin the at will.

Upon reconnection, a node downloads and verifies new blocks from other to complete its local copy of the .

Last Updated on 3 years by pinc