What is Bitcoin? (BTC)
Bitcoin is the first cryptocurrency, a form of electronic cash sent peer-to-peer without the need for a financial intermediary. It is the first decentralized digital currency, the system works without a central bank or single administrater.
Bitcoins are sent from user to user on the peer-to-peer Bitcoin network directly, without the need for intermediaries. These transactions are verified by network nodes through cryptography and recorded in a distributed ledger called a blockchain. Bitcoin was invented by an unknown person or group of people using the name Satoshi Nakamoto and released as open source software in 2009.
Bitcoins are created as a reward for a process known as mining.
A Satoshi is the smallest fraction of a Bitcoin that can currently be sent: 0.00000001 BTC, that is, a hundredth of a millionth BTC.
