$XRP Bitcoin is a digital currency that operates without a central authority, using a decentralized network of computers (nodes) that verify and record transactions in a public ledger called blockchain. These nodes work together to validate transactions using cryptography, ensuring that only legitimate owners can spend their bitcoins.

Consensus on the state of the blockchain is achieved through a process called mining, where nodes solve complex mathematical problems (proof of work) to add new blocks of transactions to the chain. This mechanism ensures the security and integrity of the network, allowing Bitcoin to function reliably without the need for intermediaries.