What is Bitcoin and How does Bitcoin work?

What is Bitcoin and How does Bitcoin work? 1

What is Bitcoin and How does Bitcoin work? Bitcoin is a form of digital currency, created and held electronically. No one controls it. Bitcoins aren’t printed, like dollars or euros – they’re produced by people, and increasingly businesses, running computers all around the world, using software that solves mathematical problems. Bitcoin is a type of digital asset, most commonly defined as a virtual, digital or crypto- currency. Bitcoin was invented by Satoshi Nakamoto, who published the payment system in a whitepaper in 2008. Released as open-source software in 2009, the bitcoin system is peer-to-peer which means that transactions take place …

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