Bitcoin Is Usually Referred To As The First Cryptocurrency
Bitcoin is a digital asset and a payment system invented by Satoshi Nakamoto, who printed the invention in 2008 and released it as open-supply software in 2009. The system is peer-to-peer; users can transact instantly with out needing an middleman. Transactions are verified by network nodes and recorded in a public distributed ledger referred to as the block chain. The ledger uses bitcoin as its unit of account. The system works without a central repository or single administrator, litecoin which has led the U.S. Treasury to categorize bitcoin as a decentralized digital foreign money. Bitcoin is often referred to as the first cryptocurrency.
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