Glossary - ChicksX

Bitcoin is a decentralized digital currency, operating without a central authority, enabling peer-to-peer transactions on its blockchain.

Bitcoin is a decentralized digital currency created in 2009 by an unknown person or group using the pseudonym Satoshi Nakamoto. It operates on a peer-to-peer network, enabling users to send and receive payments without relying on a central authority like a bank. Transactions are verified by network nodes through cryptography and recorded on a public ledger called the blockchain. Bitcoin is limited in supply, capped at 21 million coins, making it deflationary. It has become popular as both a medium of exchange and a store of value, often referred to as "digital gold."