Bitcoin - Page 28

Bitcoin is a decentralized digital currency that operates without a central authority or single administrator. It uses peer-to-peer technology to enable instant payments between users, which are verified by network nodes through cryptography and recorded on a public ledger called the blockchain. Bitcoin was created in 2009 by an unknown person or group of people using the pseudonym Satoshi Nakamoto. It is the first and most well-known cryptocurrency, often referred to as digital gold due to its scarcity and value. Transactions are secured by a process known as mining, where powerful computers solve complex mathematical problems to validate transactions and add them to the blockchain. Bitcoin can be used for a variety of transactions, including online purchases and investment, and it is distinguished by its limited supply, with a maximum of 21 million bitcoins that can ever be mined.