Bitcoin Real Talk

One of Bitcoin’s most appealing features is its ruthless verification process, which greatly minimizes the risk of fraud. Since Bitcoin is decentralized, volunteers—referred to as “miners”—constantly verify and update the blockchain. Once a specific amount of transactions are verified, another block is added to the blockchain and business continues per usual.

Released as an open-source software in 2009, Bitcoin is often credited as the world’s first cryptocurrency and is  best defined as a digital currency that only exists electronically . Bitcoin is decentralized , meaning it doesn’t have a central issuing authority or political institution that controls the amount of bitcoin in circulation. But the Bitcoin platform is far from anarchy.