Bitcoin: Currency, Ledger, and Protocol
Bitcoin can mean the BTC digital currency as well as the public ledger, software protocol, and ecosystem that support its transactions. Distinguishing these meanings is the first step in learning about Bitcoin.
Bitcoin as a Digital Currency
Bitcoin is first of all a peer-to-peer digital currency operating on a distributed computer network and is generally represented as BTC. It uses cryptographic technology for security and was the earliest cryptocurrency. Its first block, called the genesis block, was mined on 2009-01-03.
Blockchain as a Public Ledger
Bitcoin and blockchain are not the same concept. A blockchain is a decentralized digital ledger that publicly records confirmed BTC transactions and is responsible for broadcasting and storing transactions. The system operates through computer code and mathematical algorithms without depending on a trusted central institution such as a bank.
Bitcoin as an open-source protocol
“Bitcoin” may also refer to the continually evolving open-source software protocol. To reduce confusion among the different meanings, the original client software was formally renamed “Bitcoin Core” in 2014 and is developed and maintained by contributors around the world.
Design Goals and Basic Ideas
Bitcoin was proposed by a person or group using the pseudonym Satoshi Nakamoto, with the aim of creating a digital-payment system that crosses national borders without intermediaries such as banks or governments. Its distributed architecture and cryptographic technology jointly help the network resist attacks and fraud.
Original Tutorial
https://www.binance.com/zh-CN/academy/glossary/bitcoin
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