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Paired with SOLOfficial Bitcoin Stablecoin Bitcoin is a decentralized digital currency (cryptocurrency) that enables peer-to-peer electronic payments without banks or other intermediaries. It was invented in 2008 by a person or group using the pseudonym Satoshi Nakamoto and launched in January 2009 with the release of open-source software and the first block of its blockchain (the “genesis block”). How it works at a high level Users send bitcoin by signing a transaction with their private key and broadcasting it to the network. Miners (or, more broadly, network participants securing the chain) bundle transactions into blocks, compete to solve a computational puzzle (proof-of-work), and append the winning block to the chain. Once a transaction has enough confirmations, it is considered final. Bitcoin was originally described in the whitepaper Bitcoin: A Peer-to-Peer Electronic Cash System as a way to send value online without relying on financial institutions. Over time it has also been widely treated as a store-of-value asset (“digital gold”) because of its fixed supply and resistance to censorship or seizure. In short, Bitcoin is both a form of digital money and the network/protocol that maintains it.
