The worldβs first cryptocurrency, Bitcoin is stored and exchanged securely on the internet through a digital ledger known as a blockchain. Bitcoins are divisible into smaller units known as satoshis β each satoshi is worth 0.00000001 bitcoin.
Every transaction involving Bitcoin is tracked on the blockchain, which is similar to a bankβs ledger, or log of customersβ funds going in and out of the bank. In simple terms, itβs a record of every transaction ever made using bitcoin.
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