Bitcoin[ar 1] (abbreviated BTC; symbol: ₿) is the first decentralized cryptocurrency. It can be sent from person to person over the Bitcoin network in a peer-to-peer manner without the need for a third party. Network transactions are verified using cryptography and recorded on a distributed ledger called the blockchain with no central oversight body. Consensus between nodes is achieved using a computationally intensive proof-of-work process known as mining, which secures the Bitcoin blockchain. Mining consumes large amounts of electricity and has been criticized for Bitcoin's environmental impact
