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Bitcoin (BTC) is the first decentralized payment network powered by its own users without any kind of intermediaries or a main authority that centralizes the operations. Bitcoin (BTC) is the virtual money of the Internet, the first cryptocurrency and the most important that exists in the ecosystem of decentralized systems.
When we talk about cryptocurrencies like the Bitcoin token, called BTC, it is important to differentiate the cryptocurrency of the project. Therefore, the first thing you should understand is that it is one thing to talk about BTC, referring to the alternative cryptocurrency in question, and another is to refer to the project behind it, called Bitcoin.
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Bitcoin: The Project
The Bitcoin network publicly shares an accounting called “blockchain”, which contains each transaction processed, allowing the validity of each transaction to be verified.
The authenticity of each transaction is protected by the sending addresses, allowing any user of the blockchain to have full control when sending Bitcoins from their own addresses. One of the main advantages is that anyone can process a transaction using the appropriate hardware, thus allowing a profit in Bitcoins for this supplied service. This is generally called “mining” or mining and its users who work on it are called miners.
BTC: The Altcoin (ie The Token)
The BTC is the Bitcoin token. It is a cryptocurrency that works under a blockchain contract that, through a personal wallet, can be desktop or by downloading a mobile application, allows the user to receive and send Bitcoin.
Although not much is known about its creator, some mention Satoshi Nakamoto as the person in charge of the main world cryptocurrency, although it is not yet known if he is a real person, a pseudonym, or a corporation.
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