What is Bitcoin

What is Bitcoin?

Bitcoin is a cryptocurrency invented in 2008 by an unknown person or group using the name Satoshi Nakamoto. It began to be used when it was released as an open source software in 2009. Also known for not being tied to any central bank or single administrator, Bitcoin is a decentralized digital currency that can be transferred from user to user on the bitcoin network without the need for intermediaries. Transactions are verified by network nodes via cryptography and recorded in a public ledger called the blockchain. El Salvador declared Bitcoin the official currency with the bill passed by the Senate on June 6, 2021.

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  1. El Salvador declared Bitcoin the official currency with the bill passed by the Senate on June 6, 2021.

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