What is Bitcoin

Every jurisdiction operates using fiat currencies because everyone highly accepts it as a store of value and a means of payment. However, people accept Bitcoin as a means of payment, but only in some parts of the world.  The fact that the government backs fiat currencies poses some concerns and limitations to its users. They include inflation, deflation, theft, to name a few. On the other hand, Bitcoin is backed by blockchain technology. The technology creates room for the network…