What is Bitcoin?

 Bitcoin is a digital currency created in 2009. It is a digital cryptocurrency made up of processed data blocks used for online and brick-and-mortar purchases. Bitcoin offers the promise of lower transaction fees than traditional online payment mechanisms and is operated by a decentralized authority, unlike government-issued currencies. Because bitcoins are limited and their value is determined by Market forces, bitcoins are also traded like stocks on various exchanges.
Bitcoins are not issued or backed by any banks or governments, nor are individual bitcoins valuable as a commodity. There are no physical bitcoins, only balances kept on a public ledger in the cloud, that – along with all Bitcoin transactions – is verified by a massive amount of computing power.

Who Invented Bitcoin?

Satoshi Nakamoto is the name associated with the person or group of people who released the original Bitcoin white paper in 2008 and worked on the original Bitcoin software that was released in 2009.

How Bitcoin works?

Bitcoin works on blockchain technology. The blockchain is a shared public ledger on which the entire Bitcoin network relies. Any confirmed transactions are added into blockchains. When any user initiates a new transaction, the transaction is verified using blockchains. Once you own bitcoins, they possess value and trade. You can use your bitcoins to purchase goods and services online, or you can tuck them away and hope that their value increases over the years.
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