Bitcoin

Bitcoin is the first cryptocurrency. The whole Bitcoin network is based on the blockchain which is a shared public ledger. The block chain contains all verified transactions of Bitcoin. It enables Bitcoin wallets to figure out their spendable amount, enabling new transactions to be confirmed and making sure the spender genuinely owns them. Cryptography is used to enforce the block chain's integrity and chronological order. Bitcoin's cryptography makes it impossible for others to corrupt the block chain or spend funds from someone else's wallet. Cryptography is also used to encrypt a Bitcoin wallet, so that it cannot be used without a password. The digital asset token of the Bitcoin network is called Bitcoin (with a lowercase "b") or BTC (Bitcoin with a capital "B"). The Bitcoin blockchain contains a record of every BTC balance and transaction. The "satoshi," which bears the name of Bitcoin's pseudonymous founder Satoshi Nakamoto, is the smallest unit of BTC. You can buy and sell bitcoin for fiat money or other digital currencies. Any value transfer between Bitcoin wallets that is recorded in the block chain is referred to as a transaction. Private keys, also known as seeds, are kept secret in bitcoin wallets and are used to sign transactions. This proves mathematically that they originated from the wallet's owner. The transaction cannot be changed by anyone after it has been issued because of this signature. Through a process known as mining, all transactions are broadcast to the network and often start to be confirmed within 10–20 minutes.