What is Bitcoin?
The first cryptocurrency to gain widespread acceptance. People may safely and directly transmit each other digital currency over the internet using Bitcoin.
Bitcoin was developed by Satoshi Nakamoto, a person or group operating under a pseudonym who first described the concept in a white paper in 2008. The idea behind bitcoin, which enables safe peer-to-peer transactions online, is deceptively straightforward.
Bitcoin is decentralized: any two people, anywhere in the world, can send bitcoin to each other without the involvement of a bank, government, or other institution. In contrast to services like Venmo and PayPal, which depend on the traditional financial system for permission to transfer money and on existing debit/credit accounts.
The blockchain, which is comparable to a bank's ledger, or record of client cash coming in and leaving out of the bank, tracks every Bitcoin transaction. It is a list of each bitcoin transaction that has ever been made, to put it simply.
The Bitcoin blockchain is dispersed over the whole network, unlike a bank's ledger. It is not governed by any corporation, nation, or other entity, and anybody may join the network.
Only 21 million bitcoins will ever exist. It is impossible to inflate or manipulate this digital currency in any manner.
You don't have to purchase a whole bitcoin; if a portion is all you need or desire, you may do so.
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