Bitcoin ($BTC ) is the first and most well-known cryptocurrency, created in 2009 by an anonymous person or group under the pseudonym Satoshi Nakamoto. It operates on a decentralized, peer-to-peer network, meaning that no central authority, like a bank or government, controls it. Instead, Bitcoin relies on blockchain technology, a distributed public ledger that records all transactions across a network of computers, ensuring transparency and security.
Key Features of #bitcoin :
1. Decentralization: Unlike traditional currencies, Bitcoin is not controlled by a central authority. The network is maintained by miners and nodes around the world, making it resistant to censorship and centralized control.
2. Limited Supply: Bitcoin has a fixed supply of 21 million coins, which are gradually released through a process called mining. This scarcity has contributed to its perception as a store of value, similar to gold.
3. Mining: Bitcoin uses a Proof of Work (PoW) consensus mechanism, where miners solve complex mathematical problems to validate transactions and secure the network. In return, they are rewarded with newly minted Bitcoin and transaction fees.
4. Security and Immutability: The blockchain is highly secure due to its cryptographic nature and the decentralization of the network. Once a transaction is confirmed, it is nearly impossible to alter, making the Bitcoin ledger immutable.
5. Anonymity and Transparency: While all transactions are recorded on the public blockchain, users' identities are pseudonymous. Bitcoin addresses are random strings of characters that don't directly reveal the identities of their owners.
6. Global Accessibility: Bitcoin is borderless, meaning anyone with internet access can send or receive BTC without the need for a third party, regardless of location.
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