An Outside Perspective (BTC)
Bitcoin: A History
Bitcoin is a cryptocurrency and/or a digital asset designed to work as a medium of exchange and rather than relying on central authorities; it uses peer-to-peer cryptography to control its creation and management (Bitcoin Project, 2021). It was invented by, presumed, pseudonymous Satoshi Nakamoto, who put in many existing ideas from the cypherpunk community (O’Hagan, 2016). The structure of bitcoin is a blockchain technology that it uses to record transactions on its network (Conway, 2020). A blockchain is pretty much, just a publicly spread ledger. It records every bitcoin transaction made on one of those blocks. When that block's memory is full, it is added to the chain of blocks. This ledger is freely available on any computer in the bitcoin network and validates bitcoin transactions, stores the blockchain, and relays transactions to other network computers. The correct term for these PCs is nodes.
