Assets, Bitcoin

Is Bitcoin Decentralized?

Bitcoin is a decentralized digital currency, without a central bank or single administrator, that can be sent from user to user on the peer-to-peer bitcoin network without the need for intermediaries. Transactions are verified by network nodes through cryptography and recorded in a public distributed ledger called a blockchain.

Bitcoin is unique in that there are a finite number of them: 21 million.

NOTE: WARNING: Bitcoin is a decentralized currency, meaning that it is not controlled by any one central authority. However, it is important to note that the Bitcoin network is still subject to certain risks and attacks, which can disrupt its decentralization and lead to a loss of value. Therefore, it is important to do your own research and remain aware of the potential risks associated with using Bitcoin.

Bitcoins are created as a reward for a process known as mining. They can be exchanged for other currencies, products, and services.

As of February 2015, over 100,000 merchants and vendors accepted bitcoin as payment.

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