Bitcoin is a peer to peer digital currency that makes use of a public ledger to verify and transact between two or more people.
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Underpinning the accounting behind the Bitcoin currency is a publicly managed technology called Blockchain, which gives the general public the ability to earn Bitcoin by participating in verifying transactions.
- Launched in 2009, bitcoin is the world's largest cryptocurrency by market capitalization.
- Unlike fiat currency, bitcoin is created, distributed, traded, and stored with the use of a decentralized ledger system, known as a blockchain.
- Bitcoin's history as a store of value has been turbulent; it has gone through several cycles of boom and bust over its relatively short lifespan.
- As the earliest virtual currency to meet widespread popularity and success, bitcoin has inspired a host of other cryptocurrencies in its wake.