Understanding Bitcoin
Bitcoin is a peer-to-peer electronic cash system. Balances are tracked on a public blockchain. New blocks are added roughly every ten minutes through proof-of-work mining, where miners compete to solve a cryptographic puzzle and the winner earns newly minted bitcoin plus transaction fees.
Key ideas
- Finite supply: Capped at 21 million; rewards halve about every four years.
- Open network: Anyone can run a node and verify.
- Self-custody: Control depends on keeping your private keys safe.
Basic concepts to explore next
Educational content only; not investment advice.
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