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Bitcoin represents a type of cryptocurrency, essentially a digital form of money. It operates as a decentralized currency without any central oversight or single governing body, allowing users to send funds directly to one another over the peer-to-peer Bitcoin blockchain network, thus eliminating the need for third-party involvement. Its operations are supported by advanced blockchain technology.
Bitcoin (BTC) stands apart from traditional fiat currencies and is not linked to any particular government. It serves as a cryptocurrency, usable for transactions or investment purposes. A growing number of mainstream businesses and even some governmental entities are now accepting BTC for payments.
The Bitcoin blockchain functions as a public ledger documenting all bitcoin transactions. This structure is created as a continuous chain of blocks, where each block includes a reference (hash) to its predecessor, all the way back to the initial genesis block.of the chаin.
