What is the real meaning and function of Bitcoin?

Decentralization: Bitcoin is the first distributed virtual currency, and the whole network consists of users without a central bank. Decentralization is the guarantee of bitcoin security and freedom.

Global circulation: Bitcoin can be managed on any networked computer. No matter where you are, anyone can mine, buy, sell or collect bitcoin.

Exclusive ownership: manipulating bitcoin requires a private key, which can be stored in any storage medium in isolation. No one can get it except the users themselves.

Low transaction cost: Bitcoin can be remitted for free, but in the end, a transaction fee of about 1 bit will be charged for each transaction to ensure the faster execution of the transaction.

No hidden cost: Bitcoin, as a means of payment from A to B, has no complicated quota and procedures. You can pay by knowing the other party's bitcoin address.

Cross-platform mining: Users can explore the computing power of different hardware on many platforms.

Extended data:

Bitcoin is the earliest cryptocurrency and the largest cryptocurrency to date. Bitcoin and blockchain were born at the same time. Like gold, the distribution of bitcoin is unbreakable, with a total upper limit of 2 1 10,000. Gold is not issued by any country, it is natural, so most people agree that gold is money.

The logical setting of bitcoin is exactly the same as that of gold, so how much is bitcoin worth? Let's take a look at the enduring jokes in the currency circle. Nine years ago, a programmer traded 10000 bitcoins for two pizzas. This transaction is the first transaction of Bitcoin, which also shows that Bitcoin has been circulated like currency. This is the embodiment of the value of Bitcoin.

If the blockchain is compared to flour, then Bitcoin is a steamed bread made of flour. Of course, flour can also be used to make flower rolls, pancakes and so on. But the earliest food made of flour was steamed bread.

Similarly, Bitcoin is the first application of blockchain technology. However, in addition to Bitcoin, blockchain technology itself can be used for many purposes. For example, blockchain can effectively solve the problems of identity forgery and data tampering in the central supervision system.

Baidu Encyclopedia-Bitcoin