#BitDigital转型 Bitcoin (BTC) is a peer-to-peer cryptocurrency designed to serve as a means of exchange independent of any central authority. BTC can be transferred as electronic cash in a secure, verifiable, and immutable manner.

Launched in 2009, BTC was the "first virtual digital currency to solve the double-spending problem" by timestamping transactions before broadcasting the transaction information to all nodes in the Bitcoin network. The Bitcoin protocol provides a solution to the Byzantine fault tolerance problem through its blockchain network structure, a concept originally created by Stuart Haber and W. Scott Stornetta in 1991.

The Bitcoin whitepaper was published in 2008 by an individual or group under the pseudonym "Satoshi Nakamoto," whose true identity has yet to be verified.

The Bitcoin protocol achieves network consensus using a proof-of-work (PoW) algorithm based on SHA-256d. The network's target block time is 10 minutes, with a maximum supply of 21 million tokens, and the rate of token generation is continually decreasing. To prevent fluctuations in congestion time, the network's block difficulty is adjusted based on an algorithm that takes into account the congestion time of the past 2016 blocks.

The block size limit is 1 megabyte, and the Bitcoin protocol simultaneously supports a multi-layer infrastructure for Lightning Network payment channels, as well as Segregated Witness, which is a soft fork that enhances functionality as a scalability solution for the network.