What is Bitcoin, and how does it work?

Bitcoin is a digital currency that lets people send money over the internet without needing a bank. It works on a technology called blockchain, which is like a public ledger that records all transactions. Everyone can see this ledger, making it secure and transparent. To make Bitcoin transactions, people use special software to solve complex math problems, a process known as "mining." This helps keep the network safe and verifies transactions. Bitcoin is decentralized, meaning no single person or government controls it.