© The Author(s), under exclusive license to APress Media, LLC, part of Springer Nature 2024
R. S. Mangrulkar, P. Vijay ChavanBlockchain Essentialshttps://doi.org/10.1007/978-1-4842-9975-3_3

3. Bitcoin

Ramchandra Sharad Mangrulkar1   and Pallavi Vijay Chavan1  
(1)
Mumbai, Maharashtra, India
 
Keywords
HistoryUsesWalletTransactionsMining

3.1 What Is Bitcoin

Bitcoin is a digital currency or cryptocurrency that was created in 2009 by an unknown person or group of people using the name Satoshi Nakamoto. Bitcoin operates on a decentralized system, which means it is not controlled by any central authority or financial institution.

The cryptocurrency uses a technology called blockchain, which is a decentralized ledger that records all transactions made using Bitcoin. ...

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