Bitcoin is a cryptocurrency that recently breached the 20,000 USD barrier. It was founded by Satoshi Nakamoto in the aftermath of the 2008 financial crisis. It was conceptualised as a ‘peer-to-peer electronic cash system’ that would enable online payments transacted between the parties without going through a financial institution. The bitcoins are associated with a ‘bitcoin address’ which is a string of alphanumerical characters. This address remains anonymous represents a ‘fraction’ or the bitcoin’s destination.

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