Difference between revisions of "Bitcoin"
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Bitcoin (BTC) is an open-source, decentralized cryptocurrency that utilizes a Proof-of-Work algorithm. | |||
On October 31, 2008, a user by the name of Satoshi Nakamoto published a white paper titled Bitcoin: A Peer-to-Peer Electronic Cash System to the Cryptography Mailing List. On January 3, 2009, the Genesis block was mined by Satoshi and on January 9, 2009, Bitcoin v0.1 was released. | |||
Lightning can be used with Bitcoin as a "backing" blockchain. | Lightning can be used with Bitcoin as a "backing" blockchain. | ||
Latest revision as of 08:02, 22 July 2020
Bitcoin (BTC) is an open-source, decentralized cryptocurrency that utilizes a Proof-of-Work algorithm.
On October 31, 2008, a user by the name of Satoshi Nakamoto published a white paper titled Bitcoin: A Peer-to-Peer Electronic Cash System to the Cryptography Mailing List. On January 3, 2009, the Genesis block was mined by Satoshi and on January 9, 2009, Bitcoin v0.1 was released.
Lightning can be used with Bitcoin as a "backing" blockchain.
About
See bitcoin.org.
Role of Bitcoin in Lightning
If you have a connection with someone, you are using the Lightning Network. You assume they will behave. If they don't, you can always "fall back" to the bitcoin blockchain, settling your balances and getting your money.