$BTC
Bitcoin is a decentralized digital currency, often referred to as a **cryptocurrency**, created in 2009 by an anonymous individual or group using the pseudonym **Satoshi Nakamoto**. It operates on a peer-to-peer network without reliance on central banks or intermediaries. Here's a concise overview:
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### **Key Features**
1. **Decentralization**:
- No single entity controls Bitcoin. Transactions are verified by a distributed network of computers (nodes) through **blockchain** technology.
2. **Blockchain**:
- A public, immutable ledger that records all transactions in chronological "blocks." Each block is cryptographically linked to the previous one, ensuring transparency and security.
3. **Limited Supply**:
- Only **21 million Bitcoin** will ever exist, making it deflationary. Over 19 million have already been mined (as of 2023).
4. **Pseudonymity**:
- Users transact via alphanumeric addresses (e.g., `1A1zP1eP5QGefi2DMPTfTL5SLmv7DivfNa`), not real-world identities. However, transactions are traceable on the blockchain.
5. **Proof-of-Work (PoW)**:
- Miners compete to solve complex mathematical puzzles to validate transactions and earn new Bitcoin as rewards. This process secures the network but consumes significant energy.
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### **How Bitcoin Works**
- **Wallets**: Software or hardware tools to store private keys (used to authorize transactions) and public keys (addresses for receiving Bitcoin).
- **Transactions**: Transfers of Bitcoin between wallets are broadcast to the network and confirmed by miners.
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