The system is permissionless; anyone can participate without approval.
β Satoshi Nakamoto
Bitcoin is censorship-resistant by design.
β Satoshi Nakamoto
Each block contains a hash of the previous block, creating a chain.
β Satoshi Nakamoto
Bitcoinβs ledger is immutable and publicly verifiable.
β Satoshi Nakamoto
The block reward halves approximately every four years to control inflation.
β Satoshi Nakamoto
The network nodes form a decentralized network without a central authority.
β Satoshi Nakamoto
Bitcoin nodes validate transactions by checking signatures and the unspent transaction outputs.
β Satoshi Nakamoto
Nodes always consider the longest chain to be the correct one and will keep working on extending it.
β Satoshi Nakamoto
The protocol evolves through community consensus and BIPs (Bitcoin Improvement Proposals).
β Satoshi Nakamoto
The network verifies transaction validity by checking cryptographic signatures.
β Satoshi Nakamoto
