BitCoin

BitCoin

Bitcoin is a digital store of value and payment system invented by Satoshi Nakamoto, who published the invention in 2008[11] and released it as open-source software in 2009.[12] The system is peer-to-peer; users can transact directly without needing an intermediary.[13]:4 Transactions are verified by network nodes and recorded in a public distributed ledger called the block chain.[14] The ledger uses its own unit of account, also called bitcoin.[note 7] The system works without a central repository or single administrator, which has led the US Treasury to categorize it as a decentralized virtual currency.[1] Bitcoin is often called the first cryptocurrency,[18][19][20] although prior systems existed.[note 8] Bitcoin is more correctly described as the first decentralized digital currency.[13][23] It is the largest of its kind in terms of total market value.[24]


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