Bitcoin is a cryptocurrency and worldwide payment system.It is the first decentralized digital currency , as the system works without a central bank or single administrator.The network is peer-to-peer and transactions take place between users directly, without an intermediary.
These transactions are verified by network nodes through the use of cryptography and recorded in a public distributed ledger called a blockchain. Bitcoin was invented by an unknown person or group of people under the name Satoshi Nakamoto and released as open software in 2009.
On 18 August 2008, the domain name "bitcoin.org" was registered.
Bitcoins are created as a reward for a process known as mining.
They can be exchanged for other currencies,products, and services.
Ticker symbols used to represent bitcoin are BTC and XBT.
The value of the first bitcoin transactions were negotiated by individuals on the bitcointalk forums with one notable transaction of 10,000 BTC used to indirectly purchase two pizzas delivered by Papa John's.
On 1 August 2017, a hard fork of bitcoin was created, known as Bitcoin Cash. Bitcoin Cash has a larger block size limit and had an identical blockchain at the time of fork.On 12 November another hard fork, Bitcoin Gold, was created. Bitcoin Gold changes the proof-of-work algorithm used in mining
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