HOW DID BITCOIN DEVELOP?

The popularity of cryptocurrency has skyrocketed in recent times, even though it is illegal in many countries. So many people

are investing in it. Today we are going to tell you about the origins of cryptocurrency and why it was created. Bitcoin is the world's oldest and most popular cryptocurrency. This currency tends to be the investor's first choice. Year after year, it has won the trust of investors. But so far no one is able to see the creator of bitcoin. This digital currency was created in 2008. It was released in 2009 as open source software. The name Satoshi Nakamoto is remembered when it comes to the name of the maker of Bitcoin. But it is not certain whether the name belongs to an individual or a group. In 2008, a scholarly white paper on Bitcoin was published which was titled as "Bitcoin: A Peer-to-Peer Electronic Cash System." According to this, it is called digital currency. It cannot be controlled by any government. When the software was released in 2009, the Bitcoin network was made public. Today the software is open source and anyone can view or contribute to it. Bitcoin works on three principles. It operates on demand and supply, cryptography and centralized networks. It should be noted that the idea of digital currency was introduced in 2008 after the economic downturn. This digital currency is also known for the exchange rate of goods and services. Bitcoin currency works on blockchain technology. It is mined or produced through extensive computing systems. However, this is a very difficult technical process. This requires a very high power supply along with internet. Due to its high price, Bitcoin is only available in limited numbers. Many companies are now accepting Bitcoin as payment. But it is banned in many countries, including Nepal.