Unruly_nation

How Transactions Work
Bitcoin transactions rely on public-key cryptography.
Each user has:
A public key (which generates a Bitcoin address others can send funds to)
A private key (which authorizes spending of funds)
When a transaction is created:
The sender signs it with their private key.
The transaction is broadcast to the network.
Nodes verify its validity.
Miners include it in a block.
Ownership of Bitcoin is therefore controlled by cryptographic keys — not by identity or centralized records.
4. Mining and Proof of Work
Bitcoin secures its network through a consensus mechanism called Proof of Work (PoW).
Miners compete to solve complex mathematical puzzles. The first to solve the puzzle:
Adds a new block to the blockchain
Receives a block reward (newly minted Bitcoin + transaction fees)
This process serves two essential functions:
It secures the network against attacks
It distributes new Bitcoin into circulation
The mining difficulty automatically adjusts approximately every two weeks to maintain an average block time of 10 minutes.
5. Bitcoin’s Monetary Policy
One of Bitcoin’s most revolutionary aspects is its predictable supply schedule.
Maximum supply: 21 million BTC
Block rewards are cut in half approximately every four years (an event known as the “halving”)
Issuance decreases over time until the final Bitcoin is mined
This transparent monetary policy contrasts with fiat currencies, which can be expanded at the discretion of central banks.
6. Nodes and Network Decentralization
Full nodes play a critical role in Bitcoin’s decentralization. A node:
Stores a complete copy of the blockchain
Independently verifies transactions and blocks
Enforces consensus rules
Because thousands of independent nodes operate worldwide, no single entity can easily alter Bitcoin’s protocol or monetary policy.
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What Is Bitcoin?
Bitcoin is a peer-to-peer digital monetary system introduced in 2009 by the pseudonymous creator Satoshi Nakamoto. It enables users to transfer value globally without relying on banks, governments, or centralized intermediaries.
At its core, Bitcoin is:
Decentralized – No single authority controls the network.
Borderless – Transactions can occur globally without permission.
Scarce – The supply is capped at 21 million coins.
Transparent – All transactions are publicly recorded on the blockchain.
2. The Blockchain: Bitcoin’s Public Ledger
Bitcoin operates on a distributed ledger technology known as the blockchain.
A blockchain is a chronological chain of blocks, where each block contains:
A list of verified transactions
A timestamp
A cryptographic reference (hash) to the previous block
This structure ensures immutability. Once data is recorded and confirmed, altering it would require redoing the computational work for all subsequent blocks — an almost impossible task due to the network’s scale. #BTC #TradeCryptosOnX #MarketRebound