What is Bitcoin?

Bitcoin is a digital currency that exists solely online, decentralized and not controlled by any government or central authority. It operates on a technology called blockchain, which is a public ledger recording all transactions. Bitcoins are created through a process called mining, where powerful computers solve complex mathematical problems. Transactions are verified by network nodes through cryptography and recorded on the blockchain, ensuring transparency and security. Bitcoin can be used for various online transactions or held as an investment, with its value fluctuating based on market demand.