Bitcoin The bitcoin network is a peer-to-peer payment network that operates on cryptographic protocols. Users send and receive bitcoin, a currency unit, by broadcasting digitally signed messages to the network using bitcoin cryptocurrency wallet software. Transactions are recorded into a distributed and replicated public database known as a blockchain, with consensus reached by a working evidence system called mining. Satoshi Nakamoto, the designer of bitcoin claims that bitcoin design and coding began in 2007. The project was released in 2009 as open source software. The network requires a minimum structure for sharing transactions. Ad hoc decentralized volunteer networks are sufficient. Messages are broadcast based on best efforts, and nodes can go and rejoin the network as they wish. After reconnecting, a node downloads and verifies a new block from another node to complete a local copy of the blockchain. Bitcoin is determined by the order in which transactions are digitally signed
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