A bitcoin is a distributed currency that is running on nodes around the world and enables its users to do transactions outside the traditional central bank-based financial system.
The technology which underlies bitcoin is called a blockchain and uses cryptography to verify the authenticity of transactions and to prevent double-spending.

In recent years Bitcoin and other cryptocurrencies have come under criticism about their unregulated nature and use in fraud and illegal activities.

Bitcoin in particular is designed to require a very large amount of electricity to stay secure.
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