Bitcoin: The Decentralized Currency Disrupting Finance and Commerce
The decentralized digital currency, Bitcoin, created in 2009 by the elusive Satoshi Nakamoto, has been causing ripples in the financial world. Unlike traditional currencies, which are controlled by a central authority, like a government or bank, Bitcoin operates on a peer-to-peer network, enabling transactions that are free from intermediaries. Built on the revolutionary blockchain technology, which is a decentralized ledger, Bitcoin transactions are secure, transparent, and irreversible. The ledger is maintained by a global network of computers, making it immune to censorship or manipulation. With a finite supply of 21 million bitcoins and approximately 18.6 million currently in circulation, Bitcoin's scarcity has only added to its value, making it a highly valued asset. The decentralization of the currency, along with its consensus mechanism, proof of work (PoW), has made Bitcoin stand out from other digital currencies. The PoW mechanism involves complex mathematical com...