It is a decentralized digital currency without is independent of banks and can be sent from user to user on the peer to peer bitcoin blockchain network without the need for intermediaries. Bitcoin is a cryptocurrency a form of electronic money. Bitcoin gives you complete control over your money unlike other assets you own which are regulated by banks and governments.
All bitcoin transactions are documented on a virtual ledger called the blockchain which is accessible for everyone to see. Bitcoin is the first decentralized digital currency. The mathematical field of cryptography is the basis for bitcoin s security.
Money can be exchanged without being linked to a real identity. It allows people to send or receive money across the internet even to someone they don t know or don t trust. Bitcoin is a digital and global money system currency.
It is not governed by a single entity nor is an institution responsible for its value. It can be considered as a file that is created and transferred around using computers which are seen as bitcoin nodes. Bitcoin is a digital currency existing only on internet.
Putting it down in simple terms the definition goes like this. The first such system to be fully functional. Computer science usually capital a system of open source peer to peer software for the creation and exchange of payment in a certain type of cryptocurrency.
1 it 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. Bitcoin is a cryptocurrency invented in 2008 by an unknown person or group of people using the name satoshi nakamoto and started in 2009 when its implementation was released as open source software. It follows the ideas set out in a whitepaper by the mysterious and pseudonymous satoshi nakamoto.
Bitcoin is a digital currency created in january 2009 following the housing market crash.
