Bitcoin, is a digital currency created by an anonymous computer programmer or group of programmers knows as satoshi Nakamoto in 2019.owners of Bitcoins can use various web sites to teade them for physical currencies,such as u.s dollars or Euros,or can Exchange them for goods and services from a number of venders. Nakamoto was concerned that traditional currencies were too reliant on the trust worthiners of banks to work properly.Nakamoto proposed a digital currency,Bitcoin that could serve as a medium of exchange without relying on any financial institutions or governments.The proposal was made in october 2008 in a paper published on the Bitcoin website which had been founded in August 2008. Bitcoin relies on public-key cryptography in which users have a public key that is available for everyone to see and a private key known only to their computers. In a Bitcoins transaction users receiving Bitcoins send theirs public keys to users transferring the Bitcoins. Users transferring the coins sign with theis private keys and the transaction is then transmitted over the Bitcoin network.so that no Bitcoin can be sent more than once at the same time,the time and amount of each transaction is recorded in a ledger file that exists at each node of the network.the identities of the users remain relatively anonymous,but everyone can see that certain Bitcoins were transferred. Transactions are put together in groups called blocks. The blocks are organized in a chrronological sequence called the blockchain.Blocks are added to the chain using a mathematical process that marks it extremely difficult for an individual user to hijack the blockchain. The blockchain technology that underpins Bitcoin has attracted considerable attention ever from skeptics of Bitcoin as a basic for allowing trustworthy. record keeping and commerce without a cental authority.
Himanshu singh Rajput 