bitcoin

An open-code cryptocurrency type based on a decentralised, encrypted P2P network. The Bitcoin protocol emerged in 2009.

Instead of using a central bank that issues and controls currency, a group of nodes controls its production (to avoid inflation and fraud) and stores a record of all the transactions undertaken (to ensure the reliability of the currency).

To transact operations with this type of currency, users must install a program. When a transaction is carried out, this program passes the information to the network nodes; this process makes sure that the money entered through a node has been taken from another, guaranteeing privacy at all times.

Additional information: