what is btc

BTC, or Bitcoin, is the first and most widely recognized cryptocurrency, created in 2009 by an unknown person or group of people using the pseudonym Satoshi Nakamoto. Bitcoin operates on a decentralized network based on blockchain technology, which is a public ledger that records all transactions across a network of computers. Here are some key features of Bitcoin: 1. **Decentralization**: Bitcoin is not controlled by any central authority, such as a government or financial institution. This decentralized nature allows for peer-to-peer transactions. 2. **Limited Supply**: The total supply of Bitcoin is capped at 21 million coins, which creates scarcity and can influence its value over time. 3. **Pseudonymity**: Transactions are recorded on the blockchain and can be viewed by anyone, but the identities of the individuals involved in the transactions are not directly tied to their Bitcoin addresses. 4. **Mining**: Bitcoin transactions are verified and added to the blockchain through a process called mining, where computers compete to solve complex mathematical problems. Miners are rewarded with newly created bitcoins and transaction fees for their efforts. 5. **Use Cases**: Bitcoin can be used for various purposes, including online purchases, as a store of value (often referred to as "digital gold"), and for remittances. Some investors also buy Bitcoin as a speculative investment. Bitcoin has led to the creation of thousands of other cryptocurrencies, collectively known as altcoins. It remains a significant player in the cryptocurrency market and continues to influence the development of blockchain technology and the broader financial landscape.