What Is Bitcoin?

Bitcoin is digital money that runs on a distributed network of computers. Sometimes people use the word Bitcoin to refer to other things: the currency itself, the decentralized public ledger its transactions are recorded in, the Bitcoin protocol with which the computers communicate, or simply the ecosystem that includes all of that. Bitcoin as peer-to-peer (P2P) digital currency is sometimes referred to as bitcoin (with lower “b”) or simply BTC. Bitcoin is a cryptocurrency, which means it is a digital currency that is protected by cryptographic techniques. It was the first cryptocurrency that came into existence, and the first Bitcoin transaction block – known as the genesis block was mined on the 3rd of January 2009.

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