Bitcoin (BTC) is the pioneering decentralized digital currency, operating on a technology known as blockchain. Created by the pseudonymous Satoshi Nakamoto in 2008, it allows peer-to-peer transactions without the need for traditional financial intermediaries like banks.
Here's a breakdown:
* Decentralization: Bitcoin's network is distributed across numerous computers, enhancing security and transparency.
* Blockchain: This public ledger records every transaction, making it immutable.
* Limited Supply: Bitcoin has a capped supply of 21 million coins, potentially contributing to its value.
* Volatility: Bitcoin's price can fluctuate significantly, making it a high-risk, high-reward asset.
* It is used as a store of value, and also as a method of transacting value.
Bitcoin's influence on the financial world is undeniable, sparking the development of countless other cryptocurrencies and blockchain applications.
