What is the working principle of Bitcoin ？Who created Bitcoin ？

2009Year 1moon3day ，Satoshi Nakamoto recorded a historic moment on the first page of the Bitcoin ledger ，That is the headlines of the Times that day ——The Times 03/Jan/2009 Chancellor on brink of second bailout for banks）（Comments ：《Times 》，2009Year 1moon3day ，The Chancellor is on the verge of the second round of banking rescue ） In the blockchain world ，Satoshi Nakamoto is famous ：He is the inventor of Bitcoin ，Also the pioneer of blockchain 、Decentralization

Bitcoin is a tool or system for recording transactions ，What he did ，It can be done in a centralized system ，His genius is that it can be done without any central server ，And it is theoretically proved that it is currently unbreakable 。So what is the operating principle of Bitcoin ？Who created it ？

one 、How Bitcoin works

From the user's perspective ，Bitcoin is a mobile application or computer program ，A Bitcoin wallet 。Users can use it to pay and receive Bitcoin 。This is how Bitcoin works for most users 。

Behind the scenes ，The entire Bitcoin network is called “Blockchain ”Public account book 。

If we compare the Bitcoin blockchain to a physical ledger ，Then each block is equivalent to a page in this ledger ，Generate a new account every ten minutes ，Each page of the ledger records the transaction information of the Bitcoin network for these ten minutes. 。Each block is based on cryptography principles ，Connect in chronological order ，Form a chain structure 。

So this account contains every transaction processed ，Allows the user's computer to verify the effectiveness of each transaction 。The authenticity of each transaction is protected by the electronic signature corresponding to the sending address. 。

in addition ，Anyone can use specialized computing devices to handle it 、Record transactions and receive Bitcoin rewards 。This service is often called “Mining ”。By mining ，Mobilized miners （miner ）The enthusiasm ，It also ensures the speed of transaction confirmation 、The correctness of transaction records and the security of the Bitcoin network 。

No one has a Bitcoin network ，Just like no one has the technology behind email 。Bitcoin is controlled by all Bitcoin users around the world 。Developers can improve Bitcoin wallet software ，But they cannot forcefully change the rules of the Bitcoin protocol ，Because all users can freely choose the wallet software they want to use 。

To maintain compatibility with each other ，All users also need to choose wallet software that follows the same rules 。Only all users reach a completely consistent consensus ，Bitcoin works normally 。therefore ，All users and developers are motivated to accept and protect this consensus 。

two 、Who created Bitcoin ？

2008Year 11moon1day ，A pseudonym Satoshi Nakamoto （Satoshi Nakamoto）The mysterious cryptographer geek publishes Bitcoin white paper on the Internet 。

He said in his white paper that this is a peer-to-peer electronic cash system ，So what is the difference between Bitcoin and traditional currencies ？Satoshi Nakamoto said ：“The most fundamental problem of traditional currency is trust ，Central banks must make people believe that it will not devalue the currency ，But this credibility never existed in history ，Banks must trust that they can manage their money well ，And let these wealth circulate in electronic currency 。But banks use money to create credit bubbles ，It's the shrinking of private wealth 。”

Bitcoin's new currency model is different from traditional ones ，First of all, it is not issued by a central agency ，Secondly, his total amount is constant 2100Ten thousand pieces will never be super-launched ，Furthermore, all transactions in Bitcoin are recorded in a public ledger ，This way everyone can view it ，Everyone can participate in accounting ，This ensures the openness and transparency of the entire system ，It also ensures that the currency will not depreciate due to excessive issuance 。

2009Year 1moon3day ，Satoshi Nakamoto recorded a historic moment on the first page of the Bitcoin ledger ，That is the headlines of the Times that day ——The Times 03/Jan/2009 Chancellor on brink of second bailout for banks）（Comments ：《Times 》，2009Year 1moon3day ，The Chancellor is on the verge of the second round of banking rescue ）

In the blockchain world ，Satoshi Nakamoto is famous ：He is the inventor of Bitcoin ，Also the pioneer of blockchain 、The pioneer of decentralized concepts 、Liberals ，He is also a cryptography expert 、economist 、Sociologist 、The world's top developers 、Nobel Prize for Economics 、Legendary figures like Jesus ……He has too many titles and halos 。

2010At the end of every year ，Satoshi Nakamoto leaves the project ，Not much is revealed about his identity 。Afterward ，Many developers are dedicated to Bitcoin projects ，The Bitcoin community grows rapidly 。

Bitcoin’s protocol and software are publicly released ，Any developer around the world can view their code ，Or develop their own modified version of Bitcoin software 。Just like the current developers ，Satoshi Nakamoto's influence is limited to those changes he made that were adopted by others ，therefore ，Satoshi Nakamoto does not control Bitcoin 。So ，Today ，The issue of the inventor of Bitcoin may be the same as the issue of the inventor of paper 。

So far ，Bitcoin has been born for more than ten years ，No one knows who Satoshi Nakamoto is 、Which country is it from 、Is it one person or a group of people 。No one knows who he is ，He may be the most mysterious person on this planet 。

three 、Summarize

Bitcoin transactions are safe 、Irrevocable ，And does not contain sensitive or personal information of customers 。This avoids losses caused to merchants due to fraud or fraudulent order refunds 。Where credit cards are unavailable or the fraud rate is unacceptable ，Merchants can easily expand new markets 。The end result is a lower handling fee ，A larger market ，and less cost 。