Bitcoin is a revolutionary cryptocurrency that has played a key role in transforming the financial world and reshaping the way people think about currencies and transactions. The word “Bitcoin” refers both to the cryptocurrency itself and to the vast computer network on which it operates.
Bitcoin cryptocurrency:
History: Bitcoin was introduced in 2009 by an individual or group of individuals operating under the pseudonym Satoshi Nakamoto. This event marked the beginning of the era of cryptocurrencies and blockchain.
Blockchain: It is based on blockchain technology, which is a distributed, unalterable database that stores information about all transactions made on the network.
Decentralization: Bitcoin is decentralized, meaning there is no single control point or issuer. Transactions are verified by a network of peer participants, called miners.
Conducting transactions: Users can send and receive Bitcoins without using financial intermediaries. Transactions are recorded on the blockchain and available to the public.
Mining (Mining): Transactions are confirmed through a mining process in which miners use computing power to solve complex mathematical problems. In return, they receive newly generated Bitcoins.
Security features: Bitcoin uses the Proof-of-Work (PoW) algorithm to secure the network against attacks and the principle that the longest block chain is considered the most important (the “chain with the most Proof-of-Work” concept).
Supply limitation: Bitcoin’s protocol defines a maximum supply of 21 million coins to control inflation and ensure a limited amount of Bitcoin is available on the market.
Bitcoin has become a focus for both investors and financial institutions, generating discussions about the future of finance, blockchain technology and the role of cryptocurrencies in the global payment system. Despite some challenges and controversy, Bitcoin continues to gain popularity and maintains its position as the world’s best-known and most valued cryptocurrency.
