#BTC☀️ Bitcoin (BTC): A Comprehensive Overview

Bitcoin, often abbreviated as BTC, is the first and most well-known cryptocurrency. Created in 2009 by an anonymous individual or group under the pseudonym Satoshi Nakamoto, Bitcoin introduced a decentralized, peer-to-peer (P2P) digital currency that operates without the need for intermediaries like banks or governments. Its underlying technology, blockchain, has since become a foundation for thousands of other cryptocurrencies and decentralized applications.

What is Bitcoin?

Bitcoin is a digital currency that allows people to send and receive payments directly without relying on centralized financial institutions. Transactions are verified by network nodes through cryptography and recorded on a public ledger called the blockchain. Unlike traditional currencies like the US Dollar or Euro, Bitcoin is not controlled by any central authority, making it immune to government manipulation or interference.

How Bitcoin Works

Bitcoin operates on a blockchain, a decentralized network that records all transactions in blocks. Each block is linked to the previous one, forming a chain. Transactions are verified and added to the blockchain by miners, who use powerful computers to solve complex mathematical puzzles. This process, called mining, also creates new Bitcoins as a reward for miners.

Here’s a breakdown of how Bitcoin transactions work:

1. A user initiates a transaction by sending BTC from their wallet to another user's wallet.

2. The transaction is broadcast to the Bitcoin network, where miners verify its authenticity.

3. Once verified, the transaction is added to a new block on the blockchain.

4. The recipient can then access the Bitcoin in their wallet.