price of bitcoin

about bitcoin

In simple words, this currency is a digital currency like the common currency of countries and its main function is to make financial exchanges between people. The general function of this currency is similar to the US dollar and the Iranian rial. But there are also important differences between this currency and currencies like the dollar. One of the most important differences is that this token was not created by governments and financial institutions and has no support other than public acceptance.

This currency is generated and works by a mathematical algorithm. In this digital currency, the task of recording and maintaining transactions is the responsibility of computing devices that are also in charge of production. The mathematical algorithm of this currency is actually an encrypted technology based on the blockchain, which maintains the privacy of users while providing network transparency. This means that despite the possibility of anonymity in the network, all users have access to the details of transaction information.

History
You may have heard that in the past, the value of each country's currency was determined by its gold reserves. For this reason, countries that had more gold reserves were richer. But this global agreement has now changed. Currently, the value of countries' money is determined based on the economic and political power of the country. Therefore, economic crises can greatly affect the value of each country's currency.