What is bitcoin?

A type of digital currency created in 2009 by an anonymous person under the pseudonym of Satoshi Nakamoto.

It is the first decentralized digital currency: it operates without the backing of any bank or government and can be used throughout the world to manage transactions. Payments are made between users through the use of cryptography, verified by a network of nodes and recorded in a public register of transactions called blockchain. Currently there are 21 million bitcoins in circulation.

 
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