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What is Bitcoin? Bitcoin is a decentralized digital currency that operates on a peer-to-peer network. It enables secure and direct transactions without the need for intermediaries like banks. Bitcoin is built on blockchain technology and can be used as a medium of exchange, a store of value, and a unit of account.
How does Bitcoin work? Bitcoin transactions are recorded on a public ledger called the blockchain. Transactions are verified by network participants called miners, who group them into blocks. Miners compete to solve complex mathematical puzzles to validate transactions and add them to the blockchain. This process, known as mining, ensures the security and integrity of the Bitcoin network.
Who created Bitcoin? Bitcoin was created by an individual or group of individuals using the pseudonym Satoshi Nakamoto. Nakamoto published the Bitcoin whitepaper in 2008 and released the first version of the Bitcoin software in 2009. The true identity of Satoshi Nakamoto remains unknown.
