Every other time, the bitcoin system will generate a random code on the system node. All computers in the Internet can search for this code. Whoever finds this code will generate a block and get a bitcoin. This process is often called mining.

At present, a bitcoin is divided into eight decimal places based on the current data structure, that is, 0.00000001btc. The smallest unit of bitcoin dug by miners is 0.00000001btc.

Generally speaking, bitcoin is like a golden mountain composed of 21 million gold coins. To get it, players need to use the computing power of the computer to calculate a group of numbers according to the existing algorithm.

Unlike all currencies, bitcoin does not rely on a specific currency institution to issue. It is generated by a large number of calculations based on a specific algorithm. Bitcoin economy uses a distributed database composed of many nodes in the whole P2P network to confirm and record all transactions, and uses cryptography design to ensure the security of all aspects of money circulation.

The decentralized nature and algorithm of P2P can ensure that it is impossible to artificially manipulate the value of bitcoin through mass production. The design based on cryptography can make bitcoin only be transferred or paid by the real owner. This also ensures the anonymity of money ownership and circulation transactions. The biggest difference between bitcoin and other virtual currencies is that the total amount of bitcoin is very limited and it has a strong scarcity.

(2021-3-22)