* Bitcoin is a decentralized digital currency, without a central bank or single administrator, that can be sent from user to user on the peer-to-peer bitcoin network without the need for intermediaries.
* It was invented in 2008 by an unknown person or group of people using the name Satoshi Nakamoto. The currency began use in 2009 when its implementation was released as open-source software.
Key Features of Bitcoin:
Decentralization : Bitcoin is not controlled by any government or financial institution. Its network is maintained by a decentralized group of nodes (computers) around the world.
Blockchain Technology : Bitcoin transactions are recorded on a public ledger called the blockchain. This technology ensures transparency and security.
Limited Supply : The total supply of Bitcoin is capped at 21 million coins, making it a deflationary asset.
Anonymity and Pseudonymity : Users can transact without revealing their identities. However, all transactions are recorded on the blockchain, which is publicly accessible.
Volatility : Bitcoin's price is highly volatile, which can
Security : The blockchain technology ensures that transactions are secure and nearly impossible to alter once confirmed.
Mining : New bitcoins are created through a process called mining, which involves solving complex cryptographic problems.
* Bitcoin is often referred to as digital gold due to its limited supply and store of value.
* It can be used for various purposes, including investment, online purchases, and remittances. However, its price is highly volatile, and it has faced regulatory scrutiny in many countries.$BTC
