#AltcoinETFsPostponed is the first decentralized cryptocurrency. It can be sent from one person to another over the Bitcoin network in a peer-to-peer manner without the need for a third party. Transactions on the network are verified using cryptography and are recorded in a distributed ledger called the blockchain without a central authority overseeing it. Consensus among nodes is achieved through a computationally intensive process based on proof of work known as mining, which secures Bitcoin's blockchain. Mining consumes large amounts of electricity and has been criticized for its environmental impact.