What currency is BTC?

Btc is the English abbreviation of "Bitcoin" (bitcoin), a digital currency and a virtual token that can be used to exchange goods and services in places where the currency is accepted.

btc is the English abbreviation of "Bitcoin" (bitcoin). It is a digital currency and a currency that can be used to accept it. Places exchange virtual tokens for goods and services.

Bitcoin is a digital currency in P2P format. It is a peer-to-peer decentralized digital currency and the first true digital currency in human history.

Decentralization: Bitcoin is the first distributed virtual currency. The entire network is composed of users and there is no central bank. Decentralization is the guarantee of Bitcoin’s security and freedom. It is created and saved electronically.

Unlike most currencies, Bitcoin is not issued by a specific monetary institution. It is generated through a large number of calculations based on a specific algorithm. The Bitcoin economy uses a distributed database composed of many nodes in the entire P2P network to confirm and record all transaction behaviors, and uses cryptographic design to ensure the security of all aspects of currency circulation. The decentralized nature of P2P and the algorithm itself ensure that currency value cannot be artificially manipulated by mass production of Bitcoins. Design based on cryptography allows Bitcoin to be transferred or paid only by real owners. This also ensures the anonymity of currency ownership and circulation transactions. The total number of Bitcoins is limited. The currency system once had no more than 10.5 million in 4 years, and the total number will be permanently limited to 21 million thereafter.

The above is the detailed content of What currency is BTC?. For more information, please follow other related articles on the PHP Chinese website!