281
edits
Difference between revisions of "Bitcoin"
m
added link to peer-to-peer definition
Jimcrypted (talk | contribs) (First edit) |
Jimcrypted (talk | contribs) m (added link to peer-to-peer definition) |
||
| Line 1: | Line 1: | ||
'''Bitcoin''' ('''₿''') is a decentralized [[digital currency]], without a central bank or single administrator, that can be sent from user to user on the peer-to-peer [[bitcoin network|bitcoin network]] without the need for intermediaries. Transactions are verified by network [[Node|nodes]] through [[cryptography]] and recorded in a public [[distributed ledger]] called a [[blockchain]]. The [[cryptocurrency]] was invented in 2008 by an unknown person or group of people using the name [[Satoshi Nakamoto]]<ref>"[https://www.economist.com/blogs/economist-explains/2015/11/economist-explains-1 Who is Satoshi Nakamoto?"] ''The Economist newspaper''.</ref>. The currency began use in 2009<ref>[https://www.newyorker.com/magazine/2011/10/10/the-crypto-currency The Crypto-Currency: Bitcoin and its mysterious inventor] ''The New Yorker magazine''.</ref> when its implementation was released as open-source software. | '''Bitcoin''' ('''₿''') is a decentralized [[digital currency]], without a central bank or single administrator, that can be sent from user to user on the [[Peer to Peer|peer-to-peer]] [[bitcoin network|bitcoin network]] without the need for intermediaries. Transactions are verified by network [[Node|nodes]] through [[cryptography]] and recorded in a public [[distributed ledger]] called a [[blockchain]]. The [[cryptocurrency]] was invented in 2008 by an unknown person or group of people using the name [[Satoshi Nakamoto]]<ref>"[https://www.economist.com/blogs/economist-explains/2015/11/economist-explains-1 Who is Satoshi Nakamoto?"] ''The Economist newspaper''.</ref>. The currency began use in 2009<ref>[https://www.newyorker.com/magazine/2011/10/10/the-crypto-currency The Crypto-Currency: Bitcoin and its mysterious inventor] ''The New Yorker magazine''.</ref> when its implementation was released as open-source software. | ||
Bitcoins are created as a reward for a process known as [[#Mining|mining]]. They can be exchanged for other currencies, products, and services. | Bitcoins are created as a reward for a process known as [[#Mining|mining]]. They can be exchanged for other currencies, products, and services. | ||