Blockchain is the technology behind Bitcoin, which is considered the origin of all cryptocurrencies. In this section, we will introduce the basics of Bitcoin and discuss the digital payment mechanism with Bitcoin.
Understanding Bitcoin and cryptocurrency
Bitcoin basics
Bitcoin is a decentralized electronic cash system that makes peer-to-peer payment possible without going through an intermediary. The original Bitcoin software was developed by Satoshi Nakamoto, released under the MIT license in 2009, following the Bitcoin whitepaper, Bitcoin: A Peer-to-Peer Electronic Cash System. Bitcoin is the first successful implementation of a distributed cryptocurrency. Ten years after Bitcoin was born, as of February 16, 2019, it has...