Traditional Culture Encyclopedia - Traditional festivals - Bitcoin has a physical object

Bitcoin has a physical object

Bitcoin is a digital cryptocurrency based on blockchain technology, which has no physical substance. Unlike traditional credit currencies, which are not issued by a specific institution or national government, Bitcoin relies on a specific algorithm, which is calculated by computer arithmetic. Due to the decentralized nature of Bitcoin, no one can manipulate the value of Bitcoin by creating large quantities of Bitcoin.

Bitcoin features

1, decentralized: Bitcoin has the characteristics of decentralization, there is no central bank, the bitcoin circulation network is composed of all the bitcoin users, which is a guarantee of the security and freedom of the bitcoin;

2, the world's circulation: Anyone can in the whole world access to the Internet on any computer to manage the bitcoin account in the name of the bitcoin, whether it is to mine bitcoins, to manage the bitcoin account, to manage the bitcoin account, to manage the bitcoin account, to manage the bitcoin account.

3. Exclusive ownership: The use of bitcoins requires a personal private key, which cannot be used by anyone other than the user;

4. Low transaction costs: There is no charge for remittance of bitcoins, but in order to ensure that the transaction is carried out quickly, a fee of 1 bitcoin cent is charged for each transaction.

5. No hidden costs: Due to the decentralized nature of Bitcoin transactions, there is no need for third-party guarantees, eliminating transaction costs.