BTC stands for Bitcoin, the first and most well-known cryptocurrency, created in 2009 by an anonymous individual or group known as Satoshi Nakamoto. It operates on a decentralized peer-to-peer network using blockchain technology, allowing secure and transparent transactions without the need for intermediaries like banks.
Key Features of Bitcoin:
1. Decentralized: No central authority controls it.
2. Limited Supply: Only 21 million Bitcoins will ever exist.
3. Secure: Uses cryptographic principles and a proof-of-work consensus mechanism.
4. Global: Can be sent and received anywhere in the world.
Current Uses:
Digital Currency: Used for online and offline purchases.
Investment: Viewed as "digital gold" by many investors.
Store of Value: Used to hedge against inflation in some cases.
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