Bitcoin is a decentralized digital currency, without a central bank or single administrator, that can be sent from user to user on the peer-to-peer bitcoin network without the need for intermediaries.
Bitcoin is the first decentralized digital currency. It was invented in 2008 by an unknown person or group of people using the name Satoshi Nakamoto and released as open-source software in 2009. Bitcoins are created as a reward for a process known as mining. They can be exchanged for other currencies, products, and services. As of February 2024, over 18.8 million bitcoins have been mined.
Bitcoin has had a significant impact on the financial world since its inception. Here are some key aspects:
Overall, Bitcoin has introduced a new way of thinking about money and finance, and its impact will continue to be felt for years to come.