Bitcoin 101: The Basics

Bitcoin is a decentralized digital currency that enables peer-to-peer transactions without intermediaries. Created in 2009 by Satoshi Nakamoto, it operates on a distributed network maintained by thousands of nodes worldwide.

Bitcoin uses blockchain technology - a public ledger of all transactions. The network is secured through proof-of-work mining, where miners compete to validate transactions and create new blocks. This process ensures security and consensus without central authority.

Wallets: Software that stores your private keys and enables transactions. Private Keys: Secret codes that prove ownership of bitcoin. Public Keys/Addresses: Your receiving addresses, shared publicly. Blocks: Groups of transactions added to the blockchain every ~10 minutes. Mining: The process of validating transactions and securing the network.

Bitcoin provides financial sovereignty, censorship resistance, and a fixed supply (21 million coins). It enables permissionless innovation and financial inclusion globally. As a neutral, open protocol, Bitcoin serves as the foundation for a new financial system.

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