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Inspiration is like this, when you don't have it, you can't get anything by racking your brains, and when inspiration comes, there is a feeling like a rushing spring, and all the bones come out. Pen, fun, pavilion www. biquge。 info

Lin Hong first had the idea of this electronic currency when he attended a regular meeting of "cypherpunk" and listened to the speech of cypherpunism advocates, and he vaguely had such an idea in his mind.

After that, it took a long time for the idea to become clear, especially after he learned about some of the financial aspects of the world.

And today, the idea has finally come to fruition.

It can be said that the solution he is now envisioning is also a summary of the techniques he has learned before.

Three days and three nights, it took a total of three days and three nights, Lin Hong conceived his own virtual currency clearly, and its design ideas basically set the tone, just like laying the foundation for a building, and the future thing is to work this foundation and find a way.

During these three days and three nights, Lin Hong spent it in a very excited state, and even forgot to sleep.

This feeling of forgetting to sleep and eat, he has not experienced it for a long time.

When he first came into contact with the radio, he was excited; When he first came into contact with computers, he was excited; He was also excited when he wrote the Bit Messenger; Later, it was not until the advent of the superbrain system that he experienced this mood.

And now, that feeling is back in place.

And with the continuous improvement of his design, his confidence in this electronic currency is getting stronger and stronger, and in the future, he is extremely convinced that this currency will definitely have an impact on the world, and as for how big this impact is, it depends on the future development.

Lin Hong named the currency "Bitcoin", which, like the basic principle of Bit Messenger, is a peer-to-peer electronic money system. Completely decentralized, with no central currency administration or server, everything is based on participants.

Bitcoin, which is a currency that lives on the flow of bits.

Because it's based on a peer-to-peer protocol, the more people involved in it, the greater the impact, and the fastest way to do that is to open source it.

Just like the bit messenger, make others believe in this currency unconditionally. It is necessary for people to fully understand how this currency works, so that they will endorse it and provide credit guarantees.

Lin Hong sorted out the basic design ideas and principles of Bitcoin and finally wrote it into an English document, which he can't wait to publish and share his results with everyone.

Although he hasn't written the software yet, it's only a matter of time.

He wanted to see what feedback he had on his design. Let's see if there's anything else that needs to be modified.

Lin Hong has actually been following the dynamics of the loose organization "cypherpunk", and has also joined their internal discussion email, which he wants to announce. It is also the choice of this email because only these people can understand their own ideas, and they have always been at the forefront of this field.

He made the document into a pdf format and logged into his email client to distribute it, but at the last minute, he stopped.

He had the idea he had when he first released the Bit Messenger.

Bitcoin, which has the potential to replace the traditional fiat currency of the present at some point in the future, has been born out of itself. It is destined to be full of rebellion and subversiveness, and the resistance it will encounter is likely to be stronger than that of the Bit Messenger, and may even be completely blocked by some countries.

Bitcoin will be a much more dangerous thing than a bit messenger.

Lin Hong felt that if he exposed his identity like this, it would be very troublesome.

Thereupon. He paused, and began to forge another identity for himself, just as he had done when he released the Bit Messenger.

Originally, he wanted to hack an account casually and then publish it. However, considering that he might use this account to discuss with others in the future, he still set up another identity by himself, and finally chose the account as ghoster, which translates to "ghost" in Chinese.

Eventually, Lin Hong, under the name of Ghoster, posted the document titled "Bitcoin: A Peer-to-Peer Electronic Cash System" on a secret email discussion group organized by "Cypherpunk".

This document, which became known as the "Creation White Paper" and the "Creation Bible" by later followers, is only nine pages long, and provides a brief and concise introduction to the design philosophy of Bitcoin.

Bitcoin uses a peer-to-peer algorithm to keep all transaction records, this distributed network, will keep a detailed list of each one, and through these records, you can speculate who each bitcoin belongs to, if the bitcoin in your transaction can't find the record from these data, then it is obvious that your bitcoin is fake.

Bitcoin payment uses symmetric encryption, and each account has a pair of keys, that is, a public key and a private key, and the person with the private key is the owner of the account.

Here, the public key is equivalent to the bank account number of the cash box, while the private key is equivalent to the key to the cash box.

If someone wants to transfer money to someone else, they should put the corresponding amount of coins into their cash box account and sign it with their private key at the same time, so that the other party will know that the money was sent by him.

Every transaction needs a witness to guarantee that the transaction has taken place, and this guarantor is the entire Bitcoin network, because when this transaction occurs, it will be required to broadcast to the entire Bitcoin network and leave footprints in this network.

Each bitcoin actually corresponds to a complete bill, and since the birth of this bitcoin, all transactions are attached to the back, forming a long chain of transactions, that is, blockchains, which will become longer and longer as transactions increase.

In other words, every bitcoin can be traced back to the moment it was born.

And how exactly did Bitcoin come about?

Here, Lin Hong cleverly devised a hashcash mechanism known as the "mining" process.

This is a mathematical algorithm, which was inspired by the idea that some mathematical results are difficult to find and easy to verify.

A well-known example is the factoring down of a large number.

The cost of multiplying the numbers to get their product is cheap, but the cost of finding those factors in the first place is much higher.

Lin Hong's design of Bitcoin uses such a principle to turn the birth of Bitcoin into a mathematical computational behavior, which he vividly calls "gold mining".

If you want to mine a bitcoin, you must use the computing power of your computer's CPU to crack the "hash hash" contained in the head of the data block, that is, contribute computing power to the entire network, and only by cracking it can you get this bitcoin.

Obviously, there must be more than one person who mines, when Bitcoin becomes popular, there may be hundreds of people who mine, so many people are competitors, they are all grabbing this Bitcoin, and who can get it in the end can only depend on luck, which is determined by the random number in it.

The computing power contributed by the miners is not wasted, and is used to encapsulate the entire bit network data block and verify the transaction to ensure that every transaction is legitimate.

The core function of Bitcoin is peer-to-peer payments, just like real money, with no middleman and almost no transaction fees.

The technical implementation behind it is very ingenious by interweaving the making of currency, the payment of transactions, and the verification of transactions to form a perfect circle.