Bitcoin (BTC) Feed: Events, News & Roadmap
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What is Bitcoin?
Bitcoin is a digital currency, often referred to as a cryptocurrency, that was created in 2009 by an unknown person or group of people using the pseudonym Satoshi Nakamoto. It was the first decentralized digital currency, meaning it operates without a central authority or government.
Bitcoin is based on a technology called blockchain, which is a distributed ledger that records all transactions across a network of computers. It utilizes cryptographic techniques to secure transactions and control the creation of new units. The blockchain serves as a transparent and immutable record of every Bitcoin transaction ever made.
Unlike traditional fiat currencies, such as the US dollar or Euro, Bitcoin is not issued or controlled by any central bank. Instead, it is generated through a process called mining. Miners use powerful computers to solve complex mathematical problems, and in return, they are rewarded with newly minted Bitcoins.
Bitcoin transactions are peer-to-peer, meaning they can be conducted directly between users without the need for intermediaries like banks. These transactions are verified by network nodes through cryptography and recorded on the blockchain.
Bitcoin has gained popularity due to its potential for decentralized financial transactions, its limited supply (there will only ever be 21 million Bitcoins in existence), and its potential as a store of value or investment asset (Bitcoin chart). It has also spurred the development of numerous other cryptocurrencies and has become a prominent player in the wider cryptocurrency market.