Featured

What is Bitcoin? Bitcoin's Blockchain Technology | How to Mine Bitcoin



Published
Bitcoin is a decentralized digital currency, without a central bank or single administrator, that can be sent from user to user on the peer-to-peer bitcoin network without the need for intermediaries. It was invented in 2008 by an unknown person or group of people using the name Satoshi Nakamoto and started as an open-source software project. Transactions are verified by network nodes through cryptography and recorded in a public distributed ledger called a blockchain. Bitcoin is unique in that there are a finite number of them: 21 million.

Bitcoins are created as a reward for a process known as mining. They can be exchanged for other currencies, products, and services. As of February 2023, bitcoin has been adopted by merchants for transactions with a growing number of countries are investing in cryptocurrencies.
Category
Cryptocurrencies
Be the first to comment