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Bitcoin - Definition
According to market capitalization, Bitcoin, which debuted in 2009, is the biggest cryptocurrency in the world. Bitcoin, unlike traditional money, is produced, circulated, traded, and stored using a blockchain, a decentralized ledger system. Proof-of-work (PoW) consensus is the “mining” procedure that adds new bitcoins to the system. It protects this cryptocurrency and its ledger. Several cryptocurrency exchanges allow for the purchase of bitcoin. The history of Bitcoin as a store of value has been tumultuous. It has experienced numerous boom and bust cycles. Several other cryptocurrencies have been influenced by bitcoin in the years since.
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