Bitcoin is a decentralised digital currency, which means a single bank or government does not control it, unlike traditional currencies. Instead, Bitcoin relies on an independent peer-to-peer (P2P) payment network comprising Bitcoin users. Network nodes use cryptography to verify transactions, which are then stored in a publicly distributed ledger called a blockchain. A network of equally empowered miners maintains the ledger.
What are the features of Bitcoin?
- Non Consumable
- Easily transactional
- Smart (Programmable)