There has been a surge in interest in bitcoin, especially over the past year, because the value of the digital currency has surged. At the beginning of 2017, a single bitcoin was worth $1,000.

To generate confidence in the security and value of the currency, and to prevent fraud and counterfeiting, the bitcoin’s creator built a network, called blockchain. Essentially an online record, blockchain securely logs each transaction. Every time anyone buys or sells bitcoin, the transactions get permanently, and unalterably, noted. This technology is what has made bitcoin a viable electronic currency.


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