Bitcoin (BTC) is a decentralized digital currency, meaning it operates without the control of any central bank or government. It was created in 2009 by an anonymous person or group using the pseudonym Satoshi Nakamoto.
Here's a breakdown of key aspects:
* Blockchain Technology:
* Bitcoin transactions are recorded on a public ledger called the blockchain, ensuring transparency and security.
* This distributed ledger is maintained by a network of computers, making it resistant to tampering.
* Decentralization:
* Unlike traditional currencies, Bitcoin's value and operation are not tied to any single entity.
* This decentralization is a core principle that attracts many users.
* Limited Supply:
* Bitcoin has a finite supply of 21 million coins, which contributes to its scarcity and potential value.
* Volatility:
* It's important to note that Bitcoin's value can fluctuate significantly, making it a volatile asset.
* Bitcoin is used as a form of digital payment, and also as a store of value.
