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The Bitcoin (₿, BTC, XBT) (English bit : unit of binary information and corner “coin” ) is a cryptomonnaie otherwise known currency cryptographic . In the case of the unitary denomination, it is written “bitcoin” and, in the case of the peer-to-peer payment system, it is written “Bitcoin” . The idea was first presented in November 2008 by a person, or a group of people, under the pseudonym Satoshi Nakamoto. The source codeof the reference implementation was published in 2009.
The G20 considers Bitcoin to be a “crypto-asset” . This term “crypto-asset” then refers to “virtual assets stored on an electronic medium allowing a community of users accepting them in payment to carry out transactions without having to resort to legal tender”.
Bitcoin is an improvement of the concept of b-money , imagined by Wei Dai in 1999, and bitgold , described in 2005 by Nick Szabo. Bitcoin in particular solves the crucial problem of the trust model : servers considered serious vote with their computing power to determine the legitimate transaction chain. In b-money, the servers were supposed to pay a security deposit according to a mechanism that was not very explicit. The idea of using a computational proof chain was put forward in the bitgold project although Nick Szabo proposed to use only a majority of addresses to establish the legitimacy of a chain of transactions, which left the problem of controlling the number of addresses unresolved.