Bitcoin (BTC) is a new form of digital currency with cryptographic keys that are decentralized to a network of computers used by users and workers around the world and is not controlled by a single organization or government. It is the first digital cryptocurrency that has achieved the public's attention and is accepted by a growing number of retailers.
Like other currencies, users can use the digital currency to purchase goods and services online as well as in some physical stores that take it as a form of payment. Currency dealers can also trade Bitcoins in Bitcoin exchanges. You can also check out the ethereum reviews to get more info about cryptocurrency.
There are some major differences between Bitcoin and traditional currencies (e.g. U.S. dollar):
-Bitcoin does not have a centralized authority or clearing house. The peer-to-peer payment network is maintained by users and miners around the world. The currency is anonymously shifted directly between users through the internet without going through a clearing house.
-A public ledger called 'Blockchain' records all Bitcoin transactions and show records to all Bitcoin owner's respective holdings. Anyone can access the public ledger to confirm the transactions. This makes the digital currency more transparent and simple. More importantly, the transparency prevents duplicity and double spending of the same Bitcoins.