Ever wondered how Bitcoin, this digital marvel, actually functions? It's simpler than you think! At its core, Bitcoin operates on a decentralized ledger called a blockchain. Think of it as a publicly accessible, digital record book.
When someone sends Bitcoin, the transaction is grouped with others into a 'block.' This block is then verified by a network of computers (miners) who solve complex mathematical problems. This process, called 'mining,' secures the network and adds the block to the blockchain.
Each block contains a 'hash,' a unique fingerprint of the previous block, linking them together chronologically and making the blockchain incredibly secure and tamper-proof. Once a block is added, the transaction is confirmed and the recipient receives their Bitcoin. This entire process happens without any central authority like a bank, making Bitcoin a truly peer-to-peer currency. So, that's Bitcoin in a nutshell – a secure, decentralized, and transparent digital currency!
