You all must have heard about Bitcoin at some point in your life, but not every one of you must be aware of what it actually is. Bitcoin basically is a digital cryptocurrency that is completely virtual and can be used to trade items of your interest that have the same worth as your bitcoin.
This highly advanced digital currency was invented by a Japanese Satoshi Nakamoto, a name used for a pseudonymous person. Nakamoto was also the one who devised the database of blockchain, a technology through which cryptocurrency works. The original bitcoin white paper was released back in 2008, and by now, there are about 18.6 million bitcoins in the world, out of which 2.4 million bitcoins are unmined. According to the studies, every 10 minutes, new blocks are being mined.
To find out more in detail about this digital currency, check the infographic below. It also explains well how the transactions of bitcoins are validated and chained.
Infographic by: Energyminute.ca
