Bitcoin is a digital asset and a payment system It is commonly called a decentralized digital currency.Bitcoins is a digital currency created in 2009 that uses decentralized technology for secure payments and storing money that doesn’t require banks or people’s names Bitcoin works on a public ledger called block chain, which holds a decentralized record of all transactions that is updated and held by all users of the network  also known as “miners”,. A limit for how many bitcoins can be created is built into the system so the value can’t be diluted.

Bitcoin was the first practical implementation and is currently the most prominent triple entry bookkeeping system in existence.Bitcoin is the first decentralized peer-to-peer payment network that is powered by its users with no central authority or middlemen.Bitcoin is a consensus network that enables a new payment system and a completely digital money.