USTD is the unit of measurement of Bitcoin, and 1 USTD is equivalent to 1 USD. Bitcoin is a P2P digital currency, not issued by a specific monetary institution. It is generated by a large number of calculations according to a specific algorithm, and adopts password design to ensure the security of all aspects of currency circulation.
The value of bitcoin is measured by USTD. Generally, a USTD will have 1 USD corresponding to it, and there are other transactions, so CNY is the unit of measurement, which is RMB, such as currency exchange.
The concept of Bitcoin was first put forward by Satoshi Nakamoto in 2009. According to Satoshi Nakamoto's idea, open source software and P2P network were designed and released. Bitcoin is a P2P digital currency. Point-to-point transmission means a decentralized payment system.
Unlike most currencies, Bitcoin is not issued by a specific monetary institution. It is generated by a large number of calculations according to a specific algorithm. Bitcoin economy uses the distributed database composed of many nodes in the whole P2P network to confirm and record all transaction behaviors, and uses cryptography to ensure the security of all aspects of currency circulation. The decentralized nature of P2P and the algorithm itself can ensure that the currency can not be manipulated artificially and create a large number of bitcoins. The design based on cryptography can make bitcoin only transferred or paid by the real owner. This also ensures the anonymity of currency ownership and circulation transactions. The biggest difference between Bitcoin and other virtual currencies is that its total amount is very limited and extremely scarce. The monetary system once did not exceed1050,000 for four years, and the total will be permanently limited to 21050,000.
Advantages of Bitcoin
1. Bitcoin is completely decentralized, which makes it impossible to manufacture in large quantities or even control its distribution quantity.
2. Due to the p2p algorithm, the bitcoin transaction is very stable, and neither itself nor the p2p network will disappear.
3. Because it is a kind of digital currency, the anonymity of users can be maintained in the transaction, and there is no need to pay taxes or be supervised.
4. Bitcoin transactions have no national boundaries and can be traded and circulated across borders.
5. Because of its special algorithm rules, it will not be easily stolen or copied.