Introducing Bitcoin

Bitcoin is the first application of blockchain technology. In this chapter, you will be introduced to Bitcoin technology in detail.

Bitcoin has started a revolution with the introduction of the very first fully decentralized digital currency, and the one that has proven to be extremely secure and stable from a network and protocol point of view. As a currency bitcoin is quite unstable and highly volatile, albeit valuable. We will explain this later in the chapter. This has also sparked a great interest in academic and industrial research and introduced many new research areas.

Since its introduction in 2008 by Satoshi Nakamoto, Bitcoin has gained massive popularity, and it is currently the most successful digital currency ...

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