Introduction
Bitcoin is a revolutionary digital currency created in 2009 by an anonymous individual or group under the pseudonym Satoshi Nakamoto. It operates without a central authority, using blockchain technology to ensure transparency and security.
How Does It Work?
Bitcoin relies on a decentralized network of computers (called nodes) that maintain a public ledger — the blockchain. Every Bitcoin transaction is verified by these nodes through a process called mining.
Key Features
- Decentralized: No central bank or government controls it.
- Limited Supply: There will only ever be 21 million Bitcoins.
- Secure & Transparent: All transactions are recorded on a public ledger.
- Global: Bitcoin can be sent anywhere with internet access.
Why Does It Matter?
Bitcoin offers an alternative to traditional financial systems. It's used for investing, transferring value globally, and as a hedge against inflation in some regions.
Conclusion
Whether you're a beginner or a seasoned crypto user, understanding Bitcoin is essential to exploring the broader world of blockchain and decentralized finance (DeFi).