Bitcoin

Bitcoin is a cryptocurrency invented

in 2008 by an unknown person or
group of people using the name
Satoshi Nakamoto.
History

The domain name

"bitcoin.org" was
registered on 18
August 2008, On 31
October 2008, a link
to a paper authored
by Satoshi Nakamoto
titled Bitcoin.
Units

• Ticker symbols used to

represent bitcoin are
BTC and XBT.

• Its Unicode character is

₿. Small amounts of
bitcoin used as
alternative units are
millibitcoin (mBTC)
Transaction

• Transactions are
defined using a Forth-
like scripting
language.

• Transactions consist
of one or more inputs
and one or more
outputs.
Ownership

• In the blockchain, bitcoins

are registered to bitcoin
addresses.

• Creating a bitcoin address

requires nothing more than
picking a random valid
private key and computing
the corresponding bitcoin
address
Mining

• Mining is a record-keeping
service done through the use of
computer processing power.

• Miners keep the blockchain

consistent, complete, and
unalterable by repeatedly
grouping newly broadcast
transactions into a block, which is
then broadcast to the network
and verified by recipient nodes.
Wallets

• A wallet stores the information

necessary to transact bitcoins.

• While wallets are often

described as a place to hold or
store bitcoins, due to the
nature of the system, bitcoins
are inseparable from the
blockchain transaction ledger.
Decentralization

• Bitcoin does not have a central

authority.

• There is no central server; the bitcoin

network is peer-to-peer.

• There is no central storage; the bitcoin

ledger is distributed.

• Anybody can become a miner.

Key Points

• Tesla CEO Elon Musk said Saturday that

bitcoin prices “seem high” after the
cryptocurrency surged to another
record high this week.

• The price of bitcoin, the world’s most

popular cryptocurrency, crossed a
major milestone Friday after the market
value reached more than $1 trillion,
leaving some major backers surprised.
Thank You