What is Bitcoin? | Pros and Cons of Bitcoin

• Bitcoin is a digital currency.
• Encryption techniques are used to regulate the generation of units of currency and verify the transfer of funds.
• Operating independently of a central bank.
• The blockchain technology is used to maintain the transaction(Bitcoin Mining)
• The founder is anonymous(said to be Satoshi Nakamoto).

Advantage

• No central bank needed.
• No paper currency required.
• Anonymous transition achieved.

Disadvantage

• There is a limit to mining a bitcoin.
• Fluctuating currency values
• Not authorized by many governments.