Bitcoin
Bitcoin is a digital currency that allows people to buy goods and services online, or trade it for other currencies. It operates on a decentralized network called blockchain, which is a secure ledger that records all transactions transparently and permanently. Unlike traditional currencies, Bitcoin is not controlled by any government or bank, making it immune to inflation or central authority interference. Users create digital wallets to store their Bitcoins, and transactions are verified by network participants, known as miners, who use powerful computers to solve complex mathematical problems.
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Bitcoin is a digital currency that operates without a central authority, relying instead on a technology called blockchain. It allows people to make secure and anonymous transactions directly between each other, without intermediaries like banks. Each transaction is recorded on the blockchain, a public ledger that ensures transparency and prevents fraud. Bitcoin can be bought, sold, and used for various transactions, and its value fluctuates based on demand. Created in 2009 by an anonymous person or group known as Satoshi Nakamoto, Bitcoin is often referred to as “cryptocurrency” due to its encryption techniques that protect transaction information.