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What is Bitcoin

Bitcoin(BTC), was initially proposed by Satoshi Nakamoto in 2008. It is a peer-to-peer, decentralized digital asset. In 2009, the Bitcoin network was born with its founder creating the first Bitcoin block.

The smallest unit of Bitcoin is "Satoshi", which is equivalent to 10^-8 BTC. The total supply of Bitcoin is fixed at 21 million coins. It is generated through a competitive process called "mining," and the mining rewards are halved approximately every four years. It is estimated that all Bitcoins will be issued by the year 2140, making it extremely scarce.

Bitcoin utilizes cryptographic technology to control the production and transfer of currency without a central issuing authority. It cannot be arbitrarily increased in supply. Bitcoin transactions are facilitated through digital signatures using private keys, allowing individuals to make direct payments to each other without the need for intermediaries. This circumvents high transaction fees, cumbersome processes, and regulatory issues.

As an unprecedented form of currency, Bitcoin has withstood numerous market tests and technological attacks, remaining resilient throughout. Today, Bitcoin has grown into a currency system with millions of users worldwide, tens of thousands of merchants accepting payments, and a market capitalization reaching billions of dollars.

Usage​

Multiple Address Formats​

With a simple click on the switch button on the page, users can now switch between multiple bitcoin address formats, including Legacy, Nested Segwit, Native Segwit, and Taproot, enhancing flexibility.

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FoxWallet is the best and most secure Bitcoin wallet with Ordinals NFT and BRC20 Token supported.