Short History Bitcoin is a cryptocurrency and worldwide payment system . [8] :3 It is the first decentralized digital currency , as the system works without a central bank or single administrator. [8] :1 [9] The network is peer-to-peer and transactions take place between users directly, without an intermediary. [8] :4 These transactions are verified by network nodes through the use of cryptography and recorded in a public distributed ledger called a blockchain . Bitcoin was invented by an unknown person or group of people under the name Satoshi Nakamoto [10] and released as open-source software in 2009. [11] In 2010, someone decided to sell theirs for the first time – swapping 10,000 of them for two pizzas. If the buyer had hung onto those Bitcoins, at today’s prices they would be worth more than $100 million. In 20011, rivalry cryptocurrenc...
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