Bitcoin, the evolution of digital assets
BTCs is the virtual or cryptocurrency invented by Satoshi Nakamoto, also regarded as“Digital Gold” aside for being the currency of the Internet: a distributed, worldwide, decentralized digital money which allow you to be your own bank.
Bitcoins are the first digital asset tracked by the first and most successful blockchain.
But what are exactly bitcoins and how do they work? On the open source protocol – named blockchain – has made possible to exchange the ownership of scarce resources. How? By a complex mechanism of state-of-the-art mathematical principles -in which the so-called Bitcoin Miners, automatically and continuously agree about the current state of the ledger and every transaction in it. and…BTCs are the reward of Bitcoin nodes for the solution to a difficult proof-of-work problem which confirms transactions and prevents double-spending.
Which is the beauty of BTCs? Unlike traditional – fiat – currencies, they are open-access (no discrimination, no amount limits, 24/7, 365 days), asset issued and managed without any central authority, cryptographic secure, transnational (no geographic limits or jurisdiction apply) and resilient, as nothing has been able to stop or break them.
And, as native digital asset, it is a bearer instrument…the private key holder is the actual and the only possible owner