Friday, August 7, 2020

Can anyone learn Bitcoin’s code? Let’s analyze

The Takeaway:

Bitcoin came into existence on 3rd January 2009, when pseudonym Satoshi Nakamoto mined the genesis block. Since then, bitcoin has come a long way. In this article, we attempt to explain how bitcoin works and how anyone can access the bitcoin source code.

ADVERTISEMENTKillerlaunch domains

An unknown person or a group of people known by the pseudonym Satoshi Nakamoto published a white paper titled “Bitcoin: A Peer-to-Peer Electronic Cash System.” This decentralized and open-source program is the financial bitcoin revolution that today is known as bitcoin. In the article, we analyze how someone can access bitcoin’s code.

The first time the term “cryptocurrency” was used by the cypherpunk Wei Dai on the cypherpunks mailing list, where a suggested the idea of a new form of money that uses cryptography to control its creation and transaction, instead of a central authority. That was the only definition of what is crypto till then. Bitcoin was the first implementation of that proposed concept.  

 

Any developer can review the bitcoin code

Bitcoin software is open-source software, and any developer around the world can review the code or make their own modified version of the Bitcoin software. Satoshi Nakamoto quit the bitcoin developers team in late 2010, without ever revealing his true identity. Since then, the community has grown exponentially, and many developers from around the world are working on bitcoin. 

 

Who controls the Bitcoin Network?

Bitcoin is truly decentralized, and no one owns the Bitcoin network. Bitcoin users around the world control the bitcoin, and any changes are made with the consensus of all the users. The network can only work correctly with the consensus of all users. Therefore, all users and developers have a strong incentive to protect this consensus, but anyone can access the bitcoins code platform.

 

How to access bitcoin source code?

The Bitcoin source code can be hosted on anything ranging from a raspberry pi to AWS. You can also read the bitcoin source code on Github without any hassle. From a user’s perspective, bitcoin works like any other mobile app or a computer program that provides a personal bitcoin wallet and allows users to send and receive bitcoins among them. But behind the scenes, the technology that allows bitcoin to be decentralized is known as the blockchain. 

Note:  Bitcoin’s reference implementation is mostly written in C++, but there are other clients written in different languages, including Python and Java. 

 

How to become a bitcoin developer?

If you want to become a bitcoin developer, the first thing that you need to do is read the 9 page Bitcoin whitepaper published by Satoshi Nakamoto. If you want to become a bitcoin developer, then it is important to learn how blockchain works. The other main aspect of the bitcoin network is the process of mining. Mining is a process of producing new coins and adding them to the bitcoin network. Mining works on the proof-of-work principle. 

Note: The original Bitcoin Core was coded by Satoshi Nakamoto using C++. 

 

Conclusion

Bitcoin is an open-source and decentralized, which means that anyone can access the entire source code at any time, and anyone can trade it. All bitcoin transactions and issued coins into existence can be transparently consulted in real-time by anyone. Bitcoin source can be reviewed on Github by anyone and learn them to develop the network with the consent of all the users. 

ADVERTISEMENTBtrz jokerbtc 728x90 en

Disclaimer: The article reflects the opinions of the author and is not representative of Chaintimes’ views.
The article does not offer any investment advice. User discretion is advised when investing in or trading with cryptocurrency. Extensive and diligent research should be carried out by the reader before making a decision.

William Botello
William Botello
William is a market research coordinator who believes that blockchain technology and cryptocurrencies can revolutionize the financial landscape. He completed his studies in Arts and Sciences from Arizona State University.

Leave A Reply

Please enter your comment!
Please enter your name here