What is Bitcoin btc (principles, transactions, etc.)

Bitcoin is a decentralized digital currency based on blockchain technology, with transactions verified and recorded by miners. Its features include anonymity, limited supply, security, and portability. Methods to obtain Bitcoin include: exchanges, mining, and using wallets.

What is Bitcoin (BTC)

Principle

Bitcoin is a decentralized digital currency founded in 2009 by Satoshi Nakamoto. It is based on blockchain technology, a distributed, public ledger that records all Bitcoin transactions.

The Bitcoin system does not rely on a central authority or financial institution. Instead, the network is maintained by a network of computers, known as miners, who verify transactions and add them to the blockchain.

Transactions

Bitcoin transactions are conducted using public and private keys. A public key is a publicly available address used to receive Bitcoins. Private keys are confidential codes used to access and control Bitcoin.

When sending Bitcoin, the transaction is broadcast to the Bitcoin network. Miners verify transactions and add them to the blockchain. Once a transaction is added to the blockchain, it is irreversible.

Features

• Decentralization: Not controlled by any central authority.
• Anonymity: Transactions only record wallet addresses, not personally identifiable information.
• Limited Supply: There are only about 21 million Bitcoins available to be mined.
• Security: Blockchain technology and encryption algorithms ensure transaction security.
• Portable: Can be sent and received worldwide without geographical restrictions.

Get Bitcoins

There are several ways to get Bitcoins:

• Exchanges: Exchanges like Coinbase and Binance allow buying and selling Bitcoins.
• Mining: Miners use computers to solve complex mathematical problems to verify transactions and receive Bitcoins as rewards.
• Wallets: Bitcoin wallets like Electrum and Exodus allow storing, sending and receiving Bitcoins.

Bitcoin Latest Updates: July 5, 2024

Bitcoin (BTC), a high-profile cryptocurrency with a current market capitalization of over $1 trillion. As of 10:00 on July 5, 2024, the price of Bitcoin was US$57,178.77, and the 24-hour trading volume reached a staggering US$425.327 billion.

In the past 24 hours, the price of Bitcoin has fallen slightly, by 2.47%. Despite the brief dip, Bitcoin remains above $50,000, indicating that the asset still enjoys strong support from investors.

According to current market data, the circulating supply of Bitcoin is 19,719,465 and the maximum supply is 21,000,000. This suggests that Bitcoin has a limited supply, which could contribute to its long-term price growth. Bitcoin has a circulating market capitalization of $1,127.535 billion, making it the largest cryptocurrency by market capitalization.

As the cryptocurrency market continues to evolve, Bitcoin is expected to continue to be closely watched. Its limited supply, growing adoption, and increasing regulatory certainty make it an attractive asset for traditional investment portfolios and cryptocurrency enthusiasts alike.

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