Bitcoin

Bitcoin (short for BTC) is the world's first and most famous cryptocurrency, created in 2009 by a person or group under the pseudonym Satoshi Nakamoto. It functions as a digital, global monetary system that is not controlled by any central authority, such as a bank or government. Its key feature is devolution — transactions take place directly between users (peer-to-peer) and are verified and recorded in a public ledger called blockchain.

The security and credibility of the network are ensured by cryptography and a process called mining, in which miners use computing power to validate transactions and add them to the blockchain. For this work, they are rewarded with newly created bitcoins. The total amount of Bitcoin is pre-limited to 21 million coins, giving it a deflationary character and contributing to its perception as Digital Gold — custodian of value. In addition to being an investment asset, Bitcoin also serves to make international payments with relatively low fees and without the need for intermediaries.