What is Bitcoin?
Published in
1 min readJun 20, 2019
Every country has its own currency. Many of European countries use Euro. It is Ruble for Russia and Dollar for the USA. To transfer or investing money in banks or offshore payments in the world, we have to use a certain currency. Bitcoin is a new type of currency and Bitcoin network uses a new method for this purpose. All transactions on this network are peer-to-peer and are processed without any middleman or central authority. Indeed, we no longer need any bank or central authority in Bitcoin network. This is the major difference between Bitcoin and traditional markets: “Bitcoin is decentralized”. Bitcoin works on a decentralized database or ledger that is called “blockchain”.
