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What is Bitcoin?

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What is Bitcoin? (BTC)


 

Bitcoin is the first and most popular cryptocurrency, developed in 2009, it set the precedent for most of the important features we see in cryptocurrencies today.  


 

While the identity of the creator is still unknown the features it boasts are still very relevant. Bitcoin promises more privacy than currency issued by a government due to its virtual anonymity and because it is operated by a decentralized authority. It also promises more security because every transaction is tracked, therefore it is very hard to fraudulently produce a Bitcoin out of digital “thin air”. 


 

Bitcoins are acquired through a process called mining, which is operated by a computer. It usually involves a process of solving difficult mathematical equations to verify the legitimacy of transactions.