Bitcoin is an electronic money that was made in 2009 by Satoshi Nakamoto. The name is also associated with open source software that he designed, and also uses peer-to-peer networks without centralized storage or a single administrator where the United States Treasury calls bitcoin a decentralized currency . Unlike most currencies, bitcoin does not depend on trusting major publishers. Bitcoin uses a database that is distributed and spreads to nodes from a P2P network to transaction journals, and uses cryptographyto provide basic security functions, such as ensuring that bitcoins can only be consumed by people owning them, and should never be done more than once.
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Bitcoin isn't just about sending money. It has many features and opens many possibilities that the community is still exploring. Here are some of the technologies currently being researched, and in some cases, being turned into real products and services. The most interesting uses of Bitcoin are probably still to be discovered.
An unprecedented level of security is possible with Bitcoin. The network provides users with protection against most prevalent types of fraud like chargebacks or unwanted charges, and bitcoins are impossible to counterfeit. Users can backup or encrypt their wallets. Hardware wallets make it very difficult to steal or lose money. Bitcoin is designed to allow its users to have complete control over their money.