It's our 19th anniversary!

What is a bitcoin?

The bitcoin is the world's first decentralised cryptocurrency, and currently has the highest market cap among other such means of payment. The word bitcoin may refer to a single unit of the currency itself, or the payment network in which transactions with the currency are carried out. All information about transactions is openly available. Each transaction block contains all the data of the previous block. These make up a continuous chain that is simultaneously stored on millions of computers around the world. It's impossible to manipulate this chain.

As a currency, bitcoin is completely independent; it isn't tied to any one government or banking system and has no internal or external administration. New coins appear when a node in the user network solves a complex mathematical problem. The amount of currency that can be generated this way is limited. There will only ever be 21,000,000 bitcoins made, after which the process of creating new units of the currency will come to an end.

Did you find the information you were looking for?

Back to top