Bitcoin (BTC) originated from a peer-to-peer distributed network operation proposed by Satoshi Nakamoto in 2008. It uses encryption technology and distributed ledgers to avoid relying on centralized institutions for endorsement. The emergence of Bitcoin also means the birth of a decentralized payment system. Unlike centralized exchanges, Bitcoin runs on many distributed devices. Within seconds, a given block will be propagated to all other nodes on the network to make sure all nodes reach a consensus on which blocks are valid. In order to protect the users’ privacy, Bitcoin uses 4 kinds of addresses: Legacy Adresses (P2PKH), Pay to Script Hash (P2SH), Native SegWit (P2WPKH) and Taproot (P2TR).
Bitcoin (BTC) wallet helps manage your BTC assets. With Bitget Bitcoin (BTC) wallet, all users enjoy great services, including cross-chain swap, transfer, deposit, balance inquiry and more. The most important thing in a wallet is the private key. Whoever controls the private key controls BTC in the Bitcoin wallet. Download Bitget wallet now to jump start your Bitcoin (BTC) journey!Bitget wallet is available for both iOS and Android devices. It’s also available as Chrome extension. Come here to manage 250,000 different tokens with one wallet.
BTC is the native token of Bitcoin. You can buy or trade BTC through centralized exchanges. It can be used for transfers, transactions and payments, but it is currently mainly used as an investment tool. Its decentralized nature means it is not regulated by the government, but there are still some external factors that can affect the price of BTC. There are currently several variants of Bitcoin resulting from forks, including: Bitcoin Cash, Bitcoin Gold, Bitcoin SV, etc. Currently, there are 105 Bitcoin fork projects. Of these, 45 Bitcoin forks are still in circulation.The operation of BTC mainly relies on the blockchain and mining. As the shared ledger that the Bitcoin relies on, the blockchain holds all transaction records; while mining is to confirm the unvalidated distributed consensus system. Once a block is validated, a "block reward" will be assigned to the miner. Through mining, the data in the blockchain is strictly stored in chronological order to guarantee neutrality, and it allows different computer systems in the mainnet to reach a consensus.