BITCOIN

Bitcoin

Bitcoin is an open source peer-to-peer electronic money and payment network introduced in 2009 by pseudonymous developer "Satoshi Nakamoto". Bitcoin has been called a cryptocurrency because it uses cryptography to secure transactions. Digitally signed payment messages are broadcast to and verified by a decentralized network of computers all over the world. Specialized computers use a proof-of-work system to prevent people from copying and spending the same bitcoin multiple times, a problem for digital currencies known as double-spending. The operators of these computers, known as "miners", are rewarded with transaction fees and newly minted bitcoins.

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bitcoin

Noun

  1. A decentralized digital currency.
    We do not accept bitcoin at this store.
  2. A unit of the bitcoin digital currency.
    This item costs one bitcoin.


The above text is a snippet from Wiktionary: bitcoin
and as such is available under the Creative Commons Attribution/Share-Alike License.

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