Bitcoin, traded in the symbol of BTC, is the first digital asset designed solely from computer programming by a computer engineer or a team of those who seek a reliable digital money trust system, that goes by the pseudonym of Satoshi Nakamoto. Unlike other Fiats, Bitcoin has no shape or banknotes and is the first asset to be called Cryptocurrency.
Bitcoin works on a peer to peer network which is distributed on the internet across the globe, this network is called Blockchain. Blockchain holds all the transactions and transferring of Bitcoin, it can be simply considered as the records or database for the Bitcoin. With this, Bitcoin is decentralized, no institution or bank can control the network.
On the terms of security and legitimacy, Bitcoin is very secure as all of its transactions are recorded in the Blockchain which is on an open network, so anyone with the internet can access all the data. And in order to alter any data on it, a computing force more powerful than all 51% computing power combined on the network is needed.
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