About Bitcoin
Bitcoin
is a cryptocurrency which isn’t managed by a bank or agency but in
which transactions are recorded in the blockchain that is public and
contains records of each and every transaction that takes place. The
cryptocurrency is traded by individuals with cryptographic keys that act
as wallets. Bitcoin was first invented in 2009 by an anonymous founder
known as Satoshi Nakamoto. Bitcoins are moved in blocks every 10 minutes
on a decentralized ledger that connects blocks into a coherent chain
dating back to the first genesis block. It was originally described as a
peer-to-peer electronic cash but the technology has evolved to
emphasize being a settlement layer rather than a payment network. This
has left integrated second layer solutions, like Lightning Network, to
prioritize that use case. It has remained the largest cryptocurrency by
market cap.
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