Understanding Bitcoin (BTC): The Digital Gold
Introduction Bitcoin (BTC), often referred to as digital gold, is the world's first and most widely recognized cryptocurrency. Since its inception in 2009 by the pseudonymous developer Satoshi Nakamoto, Bitcoin has revolutionized the financial landscape, introducing a decentralized and secure means of transferring value over the internet. What is Bitcoin? Bitcoin is a decentralized digital currency that operates on a peer-to-peer network without a central authority. It relies on blockchain technology, a distributed ledger that records all transactions across a network of computers. This ensures transparency, security, and immutability, making Bitcoin a reliable store of value and medium of exchange. How Does Bitcoin Work? Blockchain Technology At the heart of Bitcoin lies blockchain technology. A blockchain is a chronological chain of blocks, each containing a set of transactions. When a transaction occurs, it is broadcasted to the network, verified by miners, and added t...