Bitcoin Decentralized Virtual Currency

Abstract

Bitcoin was created as an electronic version of cash. The decentralized currency is revolutionary for its use of a distributed ledger. Rather than a central ledger held by a third party requiring trust of that third party, Bitcoin distributes that ledger to all users and removes the need for a third-party intermediary. Bitcoin is becoming “money without banks” for many users. It is difficult, but not impossible, for regulatory agencies to monitor Bitcoin activity. These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.