What is Bitcoin?

Bitcoin is a decentralized digital currency that was invented in 2008 by an unknown person or group of people using the name Satoshi Nakamoto. It was released as open-source software in 2009.

Bitcoin transactions are recorded on a public ledger called the blockchain, which is maintained by a network of computers around the world. This technology ensures transparency and security for all Bitcoin transactions.

Unlike traditional fiat currencies, such as the US dollar or Euro, Bitcoin is not controlled by any government or central authority. It operates on a peer-to-peer network, allowing users to send and receive funds directly without the need for intermediaries.

Bitcoin has gained significant popularity since its inception, and it is now widely accepted as a form of payment by various merchants and businesses. The value of Bitcoin is determined by supply and demand in the market and can be highly volatile.