About Bitcoin

Bitcoin is a digital asset and a payment system invented by Satoshi Nakamoto, He published the white paper in 2008 and released open-source software in 2009. The system is peer-to-peer, transactions can be done directly without an intermediary. Transactions are verified by network nodes and recorded in a public distributed ledger called the block chain. The ledger uses bitcoin as its unit of account. Bitcoin is the first decentralized digital currency.

Bitcoins come into existence through a process called Mining. 14 million bitcoins have been mined so far.