In the world of bitcoin, if you want to own bitcoin, you need to apply for a bitcoin address, just like you deposit money in a bank, you need to open an account. Then, if you have your own account, you can deposit the money in your own account, and others can transfer the money to your account. When you need to withdraw money or transfer money to others, you need to show a key to open this address, that is, your private key, just like when you are at an ATM.
Unlike legal tender issued by banks, the issuance of legal tender is managed by central banks all over the world. Everyone believes that the central bank is reliable and will not be mistaken. However, the issuance of Bitcoin does not require an authority such as the central bank. It allows a transaction to be directly settled from one institution to another, which saves the link of authoritative settlement, improves the efficiency of transaction and settlement, and saves the transaction cost, especially the cost of cross-border transactions.
The blockchain consists of multiple blocks, and each block consists of a block header and a block. Each block header contains the meta-information of the block and a pointer to the hash value of the previous block header. This pointer is the key information to prevent the blockchain from being tampered with. This block contains the transaction information of Bitcoin. The first transaction is a special transaction, which is a reward for the mining node. This is also the only way to generate bitcoin, that is, the way to issue bitcoin. The rest of the transactions are transfer transactions, and bitcoin is paid from one address to another, which is the only way to realize the value transfer of bitcoin. To sum up, Bitcoin has only two ways: mining and transferring money. After bitcoin is produced, it can only be transferred from one person to another, and it is impossible to disappear. Moreover, the total amount of bitcoin issued is unchanged, with a total of 2 1 10,000, which is an ordinary currency.