What is Bitcoin and How Does it Work

The original Bitcoin white paper describes a system for electronic transactions without relying on trust. Governing this system are fixed protocols utilizing an immutable blockchain and a digital coin as the medium of exchange. To mainstream audience, Bitcoin is best explained as a unit of the Bitcoin digital currency—but it’s much more than that. Bitcoin’s real genius is more in its economical design than in any technical innovation. Decentralization happens through the fixed protocol. Bitcoin creates a cash system where participants do not have to rely on an intermediary such as a bank or payment processor to facilitate transactions. Check out CoinGeek’s Bitcoin Guide for Beginners to learn more about how Bitcoin works: https://coingeek.com/bitcoin101/