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What is Bitcoin?

Bitcoin is the first decentralized digital currency digital payment system that has no central bank or single administrator was monitoring on its transaction.  The system is peer-to-peer, which means that each transaction takes place directly to the users, without an intermediary. It was invented by a group of programmers based in Japan, under the name Satoshi Nakamoto and released as open-source software in 2009. Transactions are confirmed through cryptographic network nodes and are registered in a large distributed public book called blockchain

Bitcoins are developed as a reward for crypto mining. They can also be exchanged for other cryptocurrencies, products, and services. the University of Cambridge estimates produced research by that in the year 2017, it already had 2.9 to 5.8 million unique users using a cryptocurrency wallet, most of them using bitcoin.

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