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1  Bitcoin / Bitcoin Discussion / What is the reason and motivation of Bitcoin? on: May 27, 2021, 02:15:13 AM
Currency was originally physical currency, such as shells, gold and silver, etc., because of their scarcity, they were used as general equivalents. The "Jiaozi" issued in the Northern Song Dynasty is known as the earliest currency in the world. Its production cost is very low, maybe even a few cents, but it can buy and exchange items that exceed several times the value.
With the development of the Internet, electronic money gradually enters the lives of the general public. In 2008, when the global financial crisis broke out, Satoshi Nakamoto planned to create a new type of payment system... Electronic money circulating all over the world.
After that, Satoshi Nakamoto combined open source software and the working mode of block cryptography in cryptography, and developed the operation of Bitcoin issuance, transaction and account management on the P2P (peer-to-peer or person-to-person) peer-to-peer network and distributed data platform. system. With this system, all nodes throughout the peer-to-peer network client can reach a network agreement in accordance with their seed files, ensuring fairness, safety and reliability in all links of currency issuance, management and circulation.
This is the reason and motivation behind Bitcoin.
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