What is Bitcoin?

Bitcoin Node.jpeg

What is Bitcoin?

Bitcoin is an open-source and decentralized peer-to-peer payment network. It is the world’s first cryptocurrency that emerged in 2009. Bitcoin remains the most dominant cryptocurrency by market capitalization, surpassing the trillion-dollar mark in 2021. 

 

Bitcoin’s inventor is unknown but linked to the pseudonym Satoshi Nakamoto.

Bitcoin Whitepaper 2009

How Bitcoin Works?

The goal of Bitcoin was to enable transactions without the need for an intermediary such as a bank, as the blockchain network utilizes a public ledger comprised of various wallet addresses. This peer-to-peer style of transaction via individual wallet addresses characterizes all cryptocurrency transactions today.

How Many Bitcoins Are There? 

Bitcoins code is programmed to only have a maximum supply of 21,000,000 making it "digital gold".

What’s The Relationship Between Bitcoin and Blockchain? 

Crypto is traded on the blockchain, which is a decentralized platform that publicly records digital assets. After over a decade of its existence, cryptocurrency has quickly become widely used and traded amongst people globally.