What is Bitcoin and How Does It Work

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Bitcoin is a decentralized digital currency that operates without a central authority or banks. It was introduced in 2009 by an anonymous entity known as Satoshi Nakamoto. Bitcoin enables peer-to-peer transactions through a technology called blockchain, which is a public ledger that records all transactions securely and transparently.

To understand how Bitcoin works, it relies on a network of computers （nodes） that validate and record transactions in blocks. These blocks are linked together in a chain using cryptographic principles, making it nearly impossible to alter past records. Users can send and receive Bitcoin using digital wallets, and transactions are verified by miners who solve complex mathematical problems to add new blocks to the blockchain. This process ensures security and prevents double-spending, making Bitcoin a reliable form of digital money.