Bitcoin is a virtual currency that is based on peer-to-peer technology to operate with no bank or central authority.
The network carries out the maintenance of transactions and issuing of bitcoins.
Bitcoin is an open source technology and nobody controls or owns it.
All people who are interested in this kind of money can be a part of it.
In other words, Bitcoin is a digital currency that can be used to make payments of any value without paying any fees for the transaction.
Bitcoins run on the blockchain, which is a decentralized ledger.
This ledger is kept updated and held by all users of the network.
If you want to create bitcoins, you need to generate blocks on the network. Each block is created cryptographically by using the computing power of its users and then appended to the blockchain. So users earn by keeping the network running.
