BTC is a decentralized digital asset that operates on a peer-to-peer network, enabling users to send and receive payments without relying on traditional financial intermediaries. Built on blockchain technology, it ensures transparency, security, and immutability in every transaction.

Here are key characteristics of BTC:

  • Decentralized ledger: Transactions are recorded on the blockchain, which is distributed across thousands of nodes.
  • Limited supply: The total supply of BTC is capped at 21 million coins, which helps maintain scarcity and value.
  • Global accessibility: BTC can be accessed and traded by anyone with an internet connection, regardless of location.

BTC has become the leading cryptocurrency by market capitalization, often referred to as "digital gold" due to its store of value properties.

To better understand the BTC ecosystem, here is a breakdown of its primary components:

Component Description
Blockchain A decentralized ledger that records all BTC transactions.
Mining The process by which new BTC is created and transactions are verified.
Wallets Software or hardware used to store and manage BTC securely.