IPCC RTP – Last 7 Attempts

Meaning:

Bitcoin is the first decentralized digital currency, created in 2009 by an unknown person (or group) using the name Satoshi Nakamoto. It allows peer-to-peer transactions over the internet without the need for banks or intermediaries.

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⚙️ How It Works:

1. Blockchain Technology:

Every Bitcoin transaction is recorded on a public ledger called the blockchain. This ledger is stored across thousands of computers worldwide — making it transparent, secure, and tamper-proof.

2. Mining:

New Bitcoins are created through a process called mining, where powerful computers solve complex mathematical puzzles. Miners validate transactions and are rewarded with new Bitcoins.

3. Wallets:

Bitcoins are stored in digital wallets (software or hardware) secured by private keys. These keys are essential for accessing and spending Bitcoin.

4. Transactions:

When you send Bitcoin, the transaction is verified by miners, added to the blockchain, and becomes permanent.

No one can reverse or alter it once confirmed.

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📊 Quick Facts:

• Total Supply: 21 million Bitcoins (limited)

• Symbol: ₿

• Smallest Unit: Satoshi (1 Bitcoin = 100 million Satoshis)

• Volatility: Prices fluctuate heavily due to supply, demand, and market sentiment.

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🧠 Why It Matters:

Bitcoin introduced the world to the concept of cryptocurrency and blockchain, leading to thousands of other digital coins and a global movement toward decentralized finance (DeFi).

Regards

Shining Stars 🌟🌟🌟