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Last updated: October 27, 2017 edit

What is Bitcoin?

Industry Decentralised currency & money network

Bitcoin is the first decentralised digital currency. They are digital coins that you can use on the internet to transact with or to use as a store of value. As Bitcoin is a peer-to-peer network, transactions take place between users directly without a third party that verifies the transaction.

The invention that makes this possible is the so-called Blockchain. The thousands of blockchain nodes verify the bitcoin transactions that happen between two parties, and for doing so, the nodes (also called miners) receive a reward in the form of newly created bitcoin and a transaction fee.

The inventor of the Bitcoin protocol goes by the nickname Satoshi Nakamoto and until today it’s still unknown who exactly this person (or group of people) is.

About BTC

Genesis Date 3 January 2009
Type Currency
Protocol Proof of Work - SHA256
Available supply BTC
Total supply BTC

Purpose of the token

The bitcoin (BTC) token is the asset of the bitcoin network. The token is used to transact with other parties on the bitcoin blockchain, but is mostly used as an investment vehicle in the form of "digital gold".

There is no specific underlying value of the bitcoin token, which means the valuation of Bitcoin is based on a network effect of people using the network to store & transact value using Bitcoin.

Latest Bitcoin (BTC) News

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