Who created Bitcoin?

Bitcoin’s first introduction and proof of it’s concept was published in 2009 by an unknown individual under the pseudonym Satoshi Nakamoto. To date, not much is known about Satoshi because Satoshi never revealed much about himself. Satoshi further left the Bitcoin project in late 2010. Despite his departure, the Bitcoin community has since grown exponentially and continues to grow.

Satoshi’s anonymity still raises concerns because of the misunderstandings of Bitcoin’s open-source nature. The entire public has access to the source code at any time and any developer can review or modify the software code. Because of this, Satishi, being the original creator of Bitcoin, is arguably as relevant today as the identity of the person who invented its whitepaper.

Who is involved in Crypto?

Over the years, trillions of dollars of crypto purchases have driven the Market Cap to the $2 trillion dollar level. Thousands of institutional investors, companies and hundreds of thousands of individuals involved from around the world. Hedgefunds, banks, supply chain companies, gaming platforms, public entertainers, merchants, nations, states, and individuals are all joining in crypto primarily because of the current global monetary instability. Do some research to see how big this digital revolution is becoming.

Who controls the Bitcoin network?

In short, no one owns the Bitcoin network just like no one owns the technology behind email or the Internet. Bitcoin transactions are verified by Bitcoin Miners which is an entire industry and Bitcoin cloud mining options. Developers are continuously improving networks. No one can force a change in the Bitcoin protocol because all users are free to choose what software and version they use.

All users need to use complying software with the same rules in order to stay compatible with each other. In order to function properly, a complete consensus among all users is required. In sum, all users and developers retain a strong incentive to protect this consensus.

How does Bitcoin work?

From the user side, Bitcoin, and many crypto currencies, are simply a mobile app or desktop program that provides a means for personal crypto holding and use. These allow the user to send and receive crypto.

On the backend however, the crypto network is adding and verifying the massive public ledger called the “block chain”. This ledger includes every transaction ever processed enabling a user’s computer to verify the validate every transaction. The authenticity of each transaction is protected by digital signatures corresponding to the sending addresses therefore allowing all users to have full control over sending bitcoins. Therefore, unchangeable and permanent.

Thus, there can be no fraud, no chargebacks and no identifying information that could be compromised resulting in identity theft. To learn more about any Crypto, please find the actual “Whitepaper” for the crypto and conduct proper research on the crypto you are desiring to educate yourself on.