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¿What is bitcoin and how does it work?

Bitcoin is a digital currency, or better said, the father of all cryptocurrencies is based on the Blockchain protocol and is a decentralized cryptocurrency that is not controlled or supported by any bank. In this case the community mantains it.

One of the great enigmas about Bitcoin is who is its creator or group of creators. He is unknown, we only know his pseudonym which is Satoshi Nakamoto.

The bitcoin is minable so the "miners" can get more coins through the work test system (POW or Proof-Of-Work). This system works basically with the mining machines. These resolve the complex algorithms and verify the validity of the transactions that are carried out in the network. As a change for performing these processes the miners earn a "reward".

The Bitcoin is not infinite, the maximum units of Bitcoins that can exist in circulation can not exceed 21,000,000 BTC.

If you want to know in which Wallet to store your Bitcoin we recommend you take a look at this article where we recommend the most recognized Wallets of this cryptocurrency.

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