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Bitcoin 101: What Is Bitcoin? - Science/Technology - Nairaland

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Bitcoin 101: What Is Bitcoin? by DigitalPaver: 10:11am On Jun 27, 2018
A lot of people approach me and ask, what is Bitcoin?

The answer will be provided in this article.

Back in those days, the word Bitcoin used to be a term only heard in the technical world, but the table has turned around as Bitcoin news is now what regularly appears in the news. Many people who are afraid of the fall and rise of Bitcoin price or never knew how to take advantage of the space, blame themselves for why they have left money on the table.

Bitcoin as a cryptocurrency uses cryptography techniques to enhance secured transaction and limit the illegal creation of surplus units of currency. Bitcoin has no central body or third parties that govern the production of new currency, verification of the transaction, or regulate the supply unlike the British pound and American dollars; therefore, it is known as a decentralized currency.

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