Bitcoin is a payment system. Or maybe it’s a cryptocurrency or a blockchain? What is it, and what do these words mean? In this article, we will understand what bitcoin is, where cryptocurrency comes from, and what it takes to create bitcoin. A lot has already been said and written about this, but still, not everyone understands the essence.
What Are Cryptocurrencies and Bitcoin?
In the world of cryptocurrencies, every client performs administrative functions and donates some power of their computer or server to keep the entire network operational. Such a network is called peer-to-peer. Such a system is needed only for one purpose — the complete absence of control by government agencies or commercial corporations.