Bitcoin P2P Digital Currency

Bitcoin P2P Digital Currency

Bitcoin is an experimental new digital currency that enables instant payments to anyone, anywhere in the world. Bitcoin uses peer-to-peer technology to operate with no central authority: managing transactions and issuing money are carried out collectively by the network. Bitcoin is also the name of the open source software which enables the use of this currency.

The software is a community-driven open source project, released under the MIT license.

bitcoin.org

Bitcoin is a decentralized electronic cash system using peer-to-peer networking, digital signatures and cryptographic proof to enable irreversible payments between parties without relying on trust. 

Payments are made in bitcoins (abbreviated BTC), a digital currency issued and transferred by the Bitcoin network. Nodes broadcast transactions to the network, which records them in a public history after validating them with a proof-of-work system.

The Bitcoin network began on January 3, 2009, with the issue of the first bitcoins, and in the same month the creator, Satoshi Nakamoto, released the official Bitcoin client as open-source software.

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