With no need for middlemen like banks or governments, peer-to-peer trades can be conducted using the decentralized digital currency bitcoin. Invented in 2009 by an unidentified person or group using the alias Satoshi Nakamoto, Bitcoin has rapidly gained acceptance as a trustworthy substitute for fiat money.
The use of blockchain technology by Bitcoin, which enables safe and transparent transactions without the use of middlemen, is one of its distinguishing characteristics. The blockchain is virtually difficult to hack or manipulate because every transaction is verified by a global network of computers.
We will examine recent developments and debates in this section, as well as its potential applications and drawbacks.