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Bitcoin Is Back With A Bang

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What is Bitcoin?
What is Bitcoin?

Bitcoin is a cryptocurrency, which are a new form of money that uses cryptography to control its creation and transactions and hence, decentralized as it eliminates any central authority or banks. This digital currency uses peer-to-peer technology and a network of volunteers spread across the world validate each transaction based on consensus, that are then recorded in a public ledger called "blockchain". This electronic cash is backed by mathematical properties than physical features as is the case for fiat currencies.

As of 8.02 am ET on January 19, 2018, Bitcoin was up 1.72 percent at $11,895.01 on the digital currency platform coinbase. The cryptocurrency had a market capitalization of $198.677 billion at the same time, according to crypto market data provider CoinMarketCap.