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What is Bitcoin?

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posted Mar 9, 2015 by Anshika Utadi

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1 Answer

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Bitcoin note is an online payment system invented by Satoshi Nakamoto, who published his invention in 2008,[and released as open-source software in 2009.

Bitcoin as a form of payment for products and services has grown, and merchants have an incentive to accept it because fees are lower than the 2–3% typically imposed by credit card processors.

Bitcoin transactions and its emission are regulated by an extensive peer-to-peer network. Bitcoin uses a distributed public universal database spread through a decentralized peer-to-peer network that uses digital signatures and is supported by a proof-of-work protocol to ensure security and legitimacy of funds in use.

answer Mar 10, 2015 by Amit Kumar Pandey
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