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The word bitcoin was first used and defined in a white paperpublished on 31 October 2008.
It is a compound of the words bit and coin. The white paper frequently uses the shorter coin. There is no uniform convention for bitcoin capitalization. Some sources use Bitcoin, capitalized, to refer to the technology and network and bitcoin.
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Lowercase, to refer to the unit of account. The Wall Street Journal, The Chronicle of Higher Education, and the Oxford English Dictionary.
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Advocate use of lowercase bitcoin in all cases, a con­vention followed throughout this article. Of lowercase bitcoin in all cases.
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The unit of account of the bitcoin system is a bitcoin. Ticker symbols used to rep­resent bitcoin are BTC and XBT.
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Small amounts of bitcoin used as alternative units are millibitcoin (mBTC), and satoshi (sat). Named in homage to bitcoin's creator, a satoshi is the smallest amount within bitcoin representing 0.00000001 bitcoins, one hundred millionth of a bitcoin. A millibitcoin equals 0.001 bitcoins, one thousandth of a bitcoin or 100,000 satoshis. The Unicode character for bitcoin.
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how it works
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History
the domain name
In November that year, a link to a paper authored by Satoshi Nakamoto titled Bitcoin: A Peer-to-Peer Electronic Cash System.
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Forks
List of bitcoin forks
Bitcoin Cash has a larger block size limit and had an identical blockchain at the time of fork. On 24 October 2017 another hard fork.
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Blockchain
a broader coverage
The blockchain is a public ledger that records bitcoin transactions. It is imple­mented as a chain of blocks, each block containing.
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A novel solution accomplishes this without any trusted central authority: the maintenance of the blockchain is performed:
# Transactions of the form payer X sends Y bitcoins to payee Z are broadcast;
# Network nodes can validates transac­tions;
# Add them to their copy of the ledger, and then broadcast these ledger addi­tions to other nodes.
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Transactions are defined using a Forth-like scripting language. Transactions consist of one or more inputs and one or more outputs.
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inputs and one or more outputs
The use of multiple inputs corresponds to the use of multiple coins in a cash transaction. Since transactions can have multiple outputs, users can send bitcoins to multiple recipients in one transaction. As in a cash transaction, the sum of inputs.
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When a user sends bitcoins, the user designates each address and the amount of bitcoin being sent to that address in an output. To prevent double spending, each input must refer to a previous unspent output in the blockchain.
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Can exceed the intended sum of payments. In such a case, an additional output is used, returning the change back to the payer.Any input satoshis not accounted for in the transaction outputs.
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In the blockchain, bitcoins are registered to bitcoin addresses. Creating a bitcoin address is nothing more than picking a random valid private key and computing the corresponding bitcoin address. This computation can be done in a split second. But the reverse (computing the private key of a given bitcoin address) is mathematically unfeasible and so users can tell others and make public.
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Moreover, the number of valid private keys is so vast that it is extremely unlikely someone will compute a key-pair that is already in use and has funds.
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