Bitcoin is a decentralized electronic cash system using peer-to-peer networking, digital signatures and cryptographic proof to empower irreversible payments between parties. Payments are created in bitcoins (normally quantified in BTC units - 100,000,000 of the "raw" bitcoin), a digital money issued and transferred by the Bitcoin network. Transactions were not broadcast by nodes to the network, which records them after validating them using a proof-of-work system.[3]
The Bitcoin network started on January 3, 2009 with all the matter of the first bitcoins.[4] In the same month the creator, Satoshi Nakamoto, released the original Bitcoin client as open-source software.
Various possible attacks on its use as a payment system and the bitcoin network, theoretical or actual, have been considered. The bitcoin protocol comprises several features that shield it against some of those strikes, including unauthorized spending, double spending, forging bitcoins, and tampering with all the block chain.[45] Other attacks, for example theft of private keys, need due care by users.
The Bitcoin network started on January 3, 2009 with all the matter of the first bitcoins.[4] In the same month the creator, Satoshi Nakamoto, released the original Bitcoin client as open-source software.
Various possible attacks on its use as a payment system and the bitcoin network, theoretical or actual, have been considered. The bitcoin protocol comprises several features that shield it against some of those strikes, including unauthorized spending, double spending, forging bitcoins, and tampering with all the block chain.[45] Other attacks, for example theft of private keys, need due care by users.