BitcoinBitcoin is an innovative payment network and a new kind of money.
Known as cryptocurrency, it was invented in 2008 by an unknown person or group of people using the name Satoshi Nakamoto. The currency began use in 2009 when its implementation was released as open-source software.: ch. 1 Bitcoin is a decentralized digital currency, without a central bank or single administrator that can be sent from user to user on the peer-to-peer bitcoin network.
The Bitcoin algorithm for the digital currency’s proof of work mining process is known as Secured Hash Algorithm 256 (SHA-256).
Bitcoin wallets keep a secret piece of data called a private key or seed, which is used to sign transactions, providing a mathematical proof that they have come from the owner of the wallet. The signature also prevents the transaction from being altered by anybody once it has been issued.

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