# Bitcoin

By [Daniil](https://paragraph.com/@daniil-2) · 2023-04-12

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Bitcoin transactions are verified by network [nodes](https://en.wikipedia.org/wiki/Node_\(networking\)) through [cryptography](https://en.wikipedia.org/wiki/Cryptography) and recorded in a public [distributed ledger](https://en.wikipedia.org/wiki/Distributed_ledger) called a [blockchain](https://en.wikipedia.org/wiki/Blockchain). The [cryptocurrency](https://en.wikipedia.org/wiki/Cryptocurrency) was invented in 2008 by an unknown person or group of people using the name [Satoshi Nakamoto](https://en.wikipedia.org/wiki/Satoshi_Nakamoto).[\[11\]](https://en.wikipedia.org/wiki/Bitcoin#cite_note-whoissn-19) The currency began use in 2009,[\[12\]](https://en.wikipedia.org/wiki/Bitcoin#cite_note-NY2011-20) when its implementation was released as [open-source software](https://en.wikipedia.org/wiki/Open-source_software).[\[7\]](https://en.wikipedia.org/wiki/Bitcoin#cite_note-Antonopoulos2014-12): ch. 1  The word "bitcoin" was defined in a [white paper](https://en.wikipedia.org/wiki/White_paper) published on October 31, 2008.[\[3\]](https://en.wikipedia.org/wiki/Bitcoin#cite_note-paper-6)[\[13\]](https://en.wikipedia.org/wiki/Bitcoin#cite_note-ageofcr-21) It is a [compound](https://en.wikipedia.org/wiki/Compound_\(linguistics\)) of the words [_bit_](https://en.wikipedia.org/wiki/Bit) and [_coin_](https://en.wikipedia.org/wiki/Coin).[\[14\]](https://en.wikipedia.org/wiki/Bitcoin#cite_note-btox-22)

[https://opensea.io/assets/0x05dFe8db15EA58Cf7Cc1186d29b17b91E74f5778/1](https://opensea.io/assets/0x05dFe8db15EA58Cf7Cc1186d29b17b91E74f5778/1)

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*Originally published on [Daniil](https://paragraph.com/@daniil-2/bitcoin)*