Description

Here's how it works:

• Decentralization: Bitcoin isn't controlled by any single entity. This means no bank or government can manage it. Instead, it relies on a network of computers spread worldwide.
• Blockchain: Bitcoin transactions are recorded on a blockchain. This is a digital ledger that keeps track of every transaction. It's shared across a network of computers, ensuring transparency and security.
• Mining: Miners use powerful computers to solve complex problems. When they solve these problems, they validate and record transactions. For their work, miners are rewarded with new bitcoins. This process is known as mining.
• Limited Supply: Only 21 million bitcoins will ever exist. This limit ensures that Bitcoin remains scarce, which can increase its value over time.
• Divisibility: Bitcoin can be divided into smaller units. The smallest unit is called a Satoshi, which is one hundred millionth of a bitcoin. This makes it flexible for various types of transactions.
• Use Cases: People use Bitcoin as an investment, a store of value, and a medium of exchange. More businesses are accepting Bitcoin for payments, making it increasingly useful in everyday transactions.
• Volatility: Bitcoin's value can change quickly, which means it can be risky. Its price has seen big ups and downs, offering both opportunities and risks for investors.

In summary, Bitcoin is a digital currency that's decentralized, secure, and has a limited supply. It challenges traditional financial systems and offers new possibilities for global commerce.