bitcoin

[Crestie C. Tuvilla]

Bitcoin (₿) is a cryptocurrency and worldwide payment system.[7]:3 It is the first decentralized digital currency, as the system works without a central bank or single administrator.[7]:1[8] The system works as a peer-to-peer network, a network in which transactions take place between users directly, without an intermediary.[7]:4,5 These transactions are verified by network nodes through the use of cryptography and recorded in a public distributed ledger called a blockchain. Bitcoin was invented by an unknown person or group of people under the name Satoshi Nakamoto[9] and released as open-source software in 2009.