Bitcoin 比
特币 bǐ tè bì
is a type of virtual currency. It is a method that uses the
"mining process" to make payments over the Internet 互
联网 hù lián wǎng.
It is the first currency 货币 huò bì of the
Internet 互
联网 hù lián wǎng
where digital tokens (bitcoins) are used and tracked by
computers all over the world. Bitcoin was created to
provide an option to the prevalent, often-criticised banking
system. The idea was to create an "open
accounting system" that does not require a central authority.
Thus, it can be thought of as a form of global decentralised
money.