2. What is Bitcoin?
● P2P protocol for decentralized digital currency
● Published anonymously by Satoshi Nakamoto in 2009
● Created economic incentive for securing system
● Currently has ~10k nodes
-protocol for P2P digital currency that is decentralized
-whitepaper defined a protocol, which is just a description of the system, and then
several client Implementations were developed based on the whitepaper, the main
one being Bitcoin Core which was initially developed in C++ with the help of Satoshi
-for first time in history allows sending transactions globally in a cryptographically
secure way without any intermediary
-users pay small fee per transaction
-miners secure network by mining or validating new transactions and collecting
reward for creating new blocks
