Bitcoin is a digital currency that doesn't rely on a central authority, such as a government or a financial institution. It is derived from a decentralized network known as blockchain, which is a distributed ledger that records all transactions conducted globally through a network of computers. This makes transactions involving Bitcoin transparent, secure, and immutable.
Unlike any of the conventional kinds of money, issued then regulated by banks, bitcoins are minted through a process called "mining". Huge amounts of computational powers employed by miners in solving highly complicated mathematical operations earn their reward: newly minted bitcoins. These processes serve to authenticate transactions but at the same time make those secure on the bitcoin network by guarding it.
Bitcoin and its underlying technological innovation: Blockchain
Blockchain is its anchor, anchored by an innovation in that, without a middleman intermediary interfering with it, the trust among users can actually be realized. The blockchain, to those who cannot speak in the tongue of technical aficionados, simply means that it is not but a public, distributed ledger, which contains every transaction which had ever transacted itself using Bitcoins.
In this chain, every "block" has a batch of transaction data, and a new block is connected to the previous one, hence…
