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Official Bitcoin on Solana Bitcoin is the world’s first decentralized cryptocurrency—a form of digital money that operates without any central bank, government, or other intermediary. bitcoin.org Key characteristics • Created by: A person or group using the pseudonym Satoshi Nakamoto. The concept was outlined in a 2008 white paper titled “Bitcoin: A Peer-to-Peer Electronic Cash System,” and the network launched in January 2009. britannica.com • How it works: Bitcoin runs on a peer-to-peer network. Transactions are recorded on a public, distributed ledger called the blockchain. This ledger is maintained by thousands of computers (nodes) around the world. No single entity controls it. coinbase.com • Security: It uses cryptography (public and private keys) so users can send and receive bitcoin securely. Network participants called miners use computing power to validate transactions and add them to the blockchain through a process called proof-of-work. In return, they earn newly created bitcoin (plus transaction fees). coinmarketcap.com • Limited supply: There will only ever be 21 million bitcoins. New coins are issued at a decreasing rate (the reward halves roughly every four years in events called “halvings”). This programmed scarcity is one reason Bitcoin is often compared to “digital gold.” britannica.com • Divisibility: One bitcoin (BTC) can be divided into 100 million smaller units called satoshis, so you can own or transfer tiny fractions. What makes it different Unlike traditional money (or apps like PayPal/Venmo), Bitcoin does not rely on banks or payment processors to approve or move funds. Anyone with an internet connection can send bitcoin directly to anyone else, anywhere in the world, 24/7. Transactions are irreversible once confirmed, and the full history is publicly verifiable on the blockchain while user identities remain pseudonymous. bitcoin.org Bitcoin can be used as a medium of exchange (for payments) or as a store of value.