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Bitcoin

Bitcoin is a decentralized digital currency and the first and most famous cryptocurrency in the world. It was introduced in 2008 by an unknown person or group using the pseudonym "Satoshi Nakamoto" and began operating in 2009. Bitcoin aims to be a global payment system independent of banks and governments, providing a way to send and receive money securely and transparently without the need for intermediaries.

How does Bitcoin work?

Bitcoin relies on a technology called blockchain. Imagine the blockchain as a huge, distributed public ledger that records all Bitcoin transactions ever made. This chain is continuously updated and verified by a network of computers (known as "miners") around the world.

Here are some key points about how it works:

* Decentralization: There is no central bank or single institution controlling Bitcoin. Transactions occur directly between users (peer-to-peer).

* Encryption: Bitcoin uses strong encryption to secure transactions and verify ownership of coins.

* Mining: "Miners" solve complex mathematical puzzles to verify groups of transactions (called "blocks") and add them to the blockchain. As a reward for their efforts, miners receive new bitcoins and transaction fees.

* Digital wallet