Bitcoin is a revolutionary asset class where value is represented not as a physical or digital object, but as a record of ownership on the Bitcoin blockchain. Summary You may have heard bitcoin being called “digital gold” or “cash for the internet” but those descriptions don’t really tell you much about it. If you want to know what bitcoin really is and how it works, you’ve come to the right place. Contents Understanding Bitcoin Bitcoin Nodes Decentralize the Network How Do Miners Verify Bitcoin Transactions? Bitcoin Mining Rewards Power Blockchain Security Understanding Bitcoin Bitcoin is not a physical or digital object. Rather, bitcoin (BTC) is a representation of value in the form of a record of ownership on the Bitcoin blockchain. While this may sound totally foreign to you, by the time you scroll down this page you will understand what bitcoin really is and how it works. To understand bitcoin the record of ownership you must first understand Bitcoin the network, which is
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