What is Bitcoin?
Bitcoin is a global form of digital currency. Unlike traditional currencies, which were frequently backed by gold and silver, bitcoin is based on distributed computing. While traditional currencies are printed by central banks, bitcoins are created or "mined" by distributed computer networks.
Bitcoin differs from traditional currencies is that it is decentralized, meaning that it is not controlled by any single institution. As a result, miners around the world create new units of the currency and confirm its transactions.
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