A monetary system that is not owned by anyone

LThe first characteristic of Bitcoin is that it is a system that was designed to work in a decentralized way.

If you think about it, this represents a great advantage. In the absence of a superior central authority, both system improvement decisions and transaction verification are made collectively by consensus among network participants.

What is Decentralization

However, under no circumstances can any person, entity or organization censor your account or your movements. The freedom to safeguard and transfer value in the Bitcoin network is absolute. Isn't it wonderful that nobody decides for you what happens to your savings?

To achieve this decentralization, Bitcoin uses an ingenious method with which it manages operations and balances. This system is called blockchain (chain of blocks) and performs the function of ledger. In the next point we explain what it consists of ...