#Gate 新上线 WLFI #九月份加密市场能否突破 #今日你看涨还是看跌？

Bitcoin is a cryptocurrency based on decentralization, utilizing a peer-to-peer network and consensus mechanism, with open-source code and blockchain as its underlying technology. It is one of the earliest systems to apply blockchain technology. The Bitcoin system is an electronic payment system that is not based on the credit of authoritative institutions, but on cryptographic principles, allowing any two parties who reach an agreement to transact directly without the involvement of any third-party institutions. The main concepts of Bitcoin include transactions, timestamp servers, proof of work, network, and incentives. Transactions are the most important part of the Bitcoin system. Everything else in Bitcoin exists to ensure that transactions can be created, propagated across the network, verified, and ultimately added to the global transaction ledger (the blockchain). The essence of a Bitcoin transaction is a data structure that encodes the value transfer between Bitcoin transaction participants. The Bitcoin blockchain is a global double-entry bookkeeping ledger, where each Bitcoin transaction is a public record on the Bitcoin blockchain. Bitcoin defines electronic coins as a chain of digital signatures, with the transfer of coins accomplished by the owner signing the previous transaction and the public key of the next owner and appending these two signatures to the end of the coin. The recipient can verify ownership of the chain by checking the signatures. Bitcoin employs asymmetric encryption technology, where the public key is the user's account number. When a user wants to spend Bitcoin, they need to sign with their private key. The system will use the account number (the public key) to verify whether the signature is correct, and calculate the actual amount in the current account from historical transactions to ensure that the funds operated by the user are within the real amount in the account. Each transaction record must be signed with a private key, and the system uses the public key to verify whether the signature is correct. If the verification is correct, it is deemed legitimate, and then the system verifies whether the transferred amount in the inserted record is correct by calculating all past transaction records of that public key to obtain the current amount of that account. If it does not exceed that amount, it is legitimate. This mechanism ensures that only the account owner can operate on their account. Combined with the final consistency principle of the P2P network structure and the chain structure of the ledger, an attacker would need computational power exceeding that of the current cluster to create another branch of the ledger. Moreover, the attacker can only change their own account, making the potential gains from such an attack very low. For the Bitcoin system, the strong computational power makes the system more robust. Bitcoin uses a proof of work mechanism that competes based on computational power, where nodes solve a complex but easily verifiable mathematical problem (SHA256). The first node to solve this problem will gain the right to record the block and receive the Bitcoin generated by that block as a reward. This problem can be understood as finding a suitable random number (Nonce) through brute force search based on the current difficulty value, such that the double SHA256 value of the block header metadata is less than or equal to the target value. The Bitcoin system automatically adjusts the difficulty value to ensure that the average time for block generation is 10 minutes. The hash value of a qualifying block header typically consists of multiple leading zeros. The higher the difficulty value, the more leading zeros in the block header hash value, making it increasingly difficult to find a suitable random number and mine a new block. Bitcoin employs an internet-based peer-to-peer (P2P) network architecture, where each node in the network is equal, with no centralized services or hierarchical structures, interconnected in a flat topology. When a new block is generated, the node that created the block broadcasts the block data to the network for verification by other nodes. The propagation of Bitcoin block data mainly includes the following steps: (1) Broadcasting new transactions to all nodes in the network. (2) Each node collects new transactions and packages them into a block. (3) Each node works to find a difficult proof of work for its block. (4) When a node finds a proof of work, it broadcasts the block to all nodes. (5) Only if all transactions in the block are valid and do not exist previously will other nodes accept this block. (6) Other nodes create a new block in the chain by using the hash value of an accepted block as the previous hash value, indicating that they accept this block. All nodes regard the longest chain as the correct chain and continue to extend it. If two nodes simultaneously broadcast different new blocks, both blocks will be retained, resulting in a branch in the chain. As each branch continues to grow, all nodes will select the longest branch as the main chain and continue to create blocks behind it. The first transaction in each Bitcoin block includes newly issued Bitcoins paid to the creator and other transaction fees, incentivizing nodes to support the Bitcoin system more actively. This is a method of distributing electronic currency into circulation without a central authority issuing currency, similar to mining gold and injecting it into circulation. The incentive system helps to keep nodes honest. If a malicious attacker possesses more total computational power than the honest nodes, they will realize that disrupting this system would damage their own wealth, while being honest would allow them to earn more electronic currency.