Transaction management and money issuance are carried out collectively by the network. Bitcoin uses peer to peer technology to operate with no central authority. Bitcoin is a decentralized digital currency that enables instant payments to anyone anywhere in the world.
Users send and receive bitcoins the units of currency by broadcasting digitally signed messages to the network using bitcoin cryptocurrency wallet software. The bitcoin network is a peer to peer payment network that operates on a cryptographic protocol. 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.
Transactions are verified by network nodes through cryptography and recorded in a public distributed ledger called a blockchain. 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 intermediaries.
