Bitcoin is a decentralized digital currency, also known as a cryptocurrency, that was created in 2009 by an anonymous individual or group of people using the pseudonym Satoshi Nakamoto. It is the first and most well-known cryptocurrency, often referred to as "digital gold."
Key Features of Bitcoin
Decentralization : Bitcoin operates on a peer-to-peer network without a central authority or middlemen. Transactions are verified by network nodes through cryptography and recorded in a public distributed ledger called a blockchain.
Blockchain Technology : The blockchain is a chain of blocks, each containing a list of transactions. It is maintained by a network of computers (nodes) and is designed to be secure and immutable. Each block is linked to the previous one, forming a chronological chain.
Limited Supply : Bitcoin has a finite supply of 21 million coins. This scarcity is built into the protocol to create value over time as demand increases and supply remains fixed.
Mining : New bitcoins are created through a process called mining. Miners use powerful computers to solve complex mathematical problems, which validates and records transactions on the blockchain. As a reward for their efforts, miners receive newly minted bitcoins and transaction fees.
Anonymity : While transactions are public and traceable on the blockchain, the identities of the users involved are not directly linked to their Bitcoin addresses, providing a level of pseudonymity.
