Cryptocurrency: Bitcoin and the Evolution of Digital Money Understanding Cryptocurrency and Bitcoin Cryptocurrency is a digital or virtual form of currency that employs cryptography for secure financial transactions. Unlike traditional fiat currencies such as the U.S. dollar, cryptocurrencies operate on decentralized networks based on blockchain technology. Bitcoin, introduced in 2009 by the pseudonymous Satoshi Nakamoto, was the first cryptocurrency and remains the most widely recognized. As of now, Bitcoin functions both as a store of value and a medium of exchange, often compared to digital gold. One Bitcoin is divisible into smaller units, with the smallest being a satoshi, equivalent to 0.00000001 Bitcoin. This divisibility ensures that Bitcoin can be used in microtransactions despite its high market value. The decentralized nature of Bitcoin means it operates without reliance on central banks or intermediaries, providing users with greater control over their finances. Bitcoin vs....
