What's the use of bitcoin height

1.

The concept of bitcoin was first proposed by Nakamoto on November 1, 2008, and was officially born on January 3, 2009. According to the idea of Nakamoto, the open source software is designed and released, and the P2P network on it is constructed. Bitcoin is a virtual encrypted digital currency in the form of P2P. Point to point transmission means a decentralized payment system

unlike all currencies, bitcoin does not rely on specific currency institutions. It is generated by a large number of calculations based on specific algorithms. Bitcoin economy uses the distributed database composed of many nodes in the whole P2P network to confirm and record all transactions, and uses the design of cryptography to ensure the security of all aspects of currency circulation

extended data:

bitcoin network generates new bitcoin through "mining". In essence, the so-called "mining" is to use computers to solve a complex mathematical problem to ensure the consistency of bitcoin network distributed accounting system

to mine bitcoin, you can download the special bitcoin computing tools, register various cooperation websites, fill the registered user name and password into the computing program, and then click the operation to officially start

the bitcoin network is robust, but the bitcoin trading platform is fragile. Trading platform is usually a website, which will be attacked by hackers or shut down by competent authorities

2.

There are two relations between bitcash and bitcoin: bitcash is the bifurcated and competitive currency of bitcoin{ RRRRR}

Second, competitive currency. As the name suggests, they are two competing currencies. It is just like the competition of two kinds of homogeneous goods in the market, competing for market share. In the virtual digital currency market, the market share is so large that more people hold one kind of currency, the number of people holding another kind of currency will be relatively reced, forming a competitive relationship between you and me

in these two relationships, competitive currency is easier to understand, while forked currency is more difficult because it is a technical problem

is the relationship between the two currencies clear now

3.

Bitcoin can be cashed and converted into the currency of most countries. Users can use bitcoin to buy some virtual items, such as clothes, hats and equipment in online games. As long as someone accepts it, they can also use bitcoin to buy real-life items

bitcoin is a kind of P2P digital currency. Point to point transmission means a decentralized payment system

1. Bitcoin (bitcoin) is a kind of network virtual currency, which can buy real-life goods. It is characterized by decentralization, anonymity, and can only be used in the digital world. It does not belong to any country or financial institution, and is not subject to geographical restrictions. It can be exchanged anywhere in the world. Therefore, it is used as a money laundering tool by some criminals

2. On January 7, 2014, Taobao announced that it would ban the sale of Internet virtual currencies such as bitcoin and lightcoin from January 14. On February 26, 2014, Democratic Senator Joe Manchin of West Virginia issued an open letter to a number of regulatory authorities of the federal government of the United States, hoping that relevant institutions would pay attention to the status quo of bitcoin encouraging illegal activities and disrupting the financial order, and demanded that actions be taken as soon as possible to completely ban the electronic currency

3. On May 12, 2017, a global outbreak of bitcoin virus madly attacked public and commercial systems! Nearly 74 countries in the world have been seriously attacked

4. From August 1, 2017, global bitcoin trading platform will suspend recharge and withdrawal services. Bitcoin China digital asset trading platform will stop new user registration on September 14, and all trading businesses will be stopped on September 30

the concept of bitcoin was first proposed by Nakamoto in 2009. According to Nakamoto's ideas, open source software was designed and released, and P2P network was built on it. Bitcoin is a kind of P2P digital currency. Point to point transmission means a decentralized payment system

Unlike most currencies, bitcoin does not rely on specific currency institutions to issue. It is generated by a large number of calculations based on specific algorithms. Bitcoin economy uses a distributed database composed of many nodes in the whole P2P network to confirm and record all transactions, And the use of cryptography design to ensure the security of all aspects of money circulation

the decentralized feature and algorithm of P2P can ensure that it is impossible to artificially control the value of bitcoin by mass manufacturing. The design based on cryptography can make bitcoin only be transferred or paid by the real owner. This also ensures the anonymity of money ownership and circulation transactions. The biggest difference between bitcoin and other virtual currencies is that the total amount of bitcoin is very limited and it has a strong scarcity. The monetary system used to have no more than 10.5 million in four years, after which the total number will be permanently limited to 21 million

4. Slicing technology is one of the common methods used by developers to improve transaction throughput
in short, slicing is a partition method to divide computing power and storage workload in a point-to-point network. After slicing, each node no longer needs to deal with the transaction load of the whole network, It only needs to process the transactions in the partition (or partition)
just like the current blockchain, the information contained in the partition is jointly maintained by multiple nodes, thus ensuring the decentralization and security of the ledger. After the partition is enabled, everyone can still see all the information in the ledger, but people no longer need to process and store all the information

5. The size of each block is one megabyte, which can hold more than 1000 transaction information. If you watch it in the last bitcoin blockchain browser, you will find that each block is about one megabyte, which has reached the upper limit of the block capacity. If there are more and more transfers in bitcoin's network, Many transactions will not be packaged and confirmed in the first block after the transaction. It may take several blocks or a longer time. In the history of bitcoin, there have been several st attacks, among which many traders create a large number of small transfers in the exchange (currency exchange). The st attack is that someone creates a large number of small transfers, making a large number of transactions to be confirmed in the network, resulting in the normal transfer can not be confirmed, The confirmation time is delayed, which affects the normal operation of the network
many traders wait for two days or more before their transactions are confirmed. Although st attack is a very extreme example, the normal transfer volume of bitcoin network has far exceeded the maximum capacity it can bear. The size of each block is now one megabyte, so we should expand the capacity of bitcoin block and break through the existing limit of one megabyte, This process is called capacity expansion.

6. Bitcoin is a consensus network, contributing to a new payment system and a fully digital currency. It is the first decentralized peer-to-peer payment network, which is controlled by its users without a central management organization or middleman. From the user's point of view, bitcoin is much like Internet cash. Bitcoin can also be regarded as the most outstanding three style bookkeeping system

bitcoin is proced by mining. Mining is simply to use your hardware equipment to calculate fixed mathematical problems, confirm transactions, and ensure the security of the whole bitcoin network system. The system will give you unequal bitcoin rewards according to the amount of computing power you contribute to the whole network< Bitcoin mining has gone through three stages: CPU, GPU and ASIC; In the second stage, people began to use graphics cards for mining, and some even bought a large number of graphics cards to form a mining machine group for mining; The third stage is to use professional ASIC miner for professional bitcoin mining. Since Avalon proced the world's first ASIC miner, the mining pattern has been completely broken, and the replacement speed of miner is very fast. Take Avalon miner as an example, it has been replaced for three generations.

7. Bitcoin block height refers to the block limit