Bitcoin is a pioneering decentralized digital currency, created in 2008 by an anonymous individual or group using the pseudonym Satoshi Nakamoto, and launched in 2009. It functions without central authorities like banks, relying instead on a peer-to-peer network where transactions are secured through cryptography and validated by participants known as miners. These transactions are permanently recorded on a public, tamper-resistant ledger called the blockchain, which ensures transparency and prevents double-spending. Bitcoin can be divided into smaller units called satoshis, and its supply is capped at 21 million coins to mimic scarcity like gold. Users store bitcoins in digital wallets and can transfer them globally with low fees, making it popular for remittances and investments. However, its value is highly volatile, influenced by market speculation, regulatory changes, and adoption rates. As the first cryptocurrency, Bitcoin has revolutionized finance by inspiring blockchain technology applications in areas like supply chain management and voting systems, though it draws criticism for the energy-intensive proof-of-work mining process that secures the network.
(bkz:satoshi nakamoto)
(bkz:satoshi nakamoto)