Bitcoin is a digital currency that operates on a decentralized network called blockchain. When a user initiates a Bitcoin transaction, it is broadcast to the network where miners validate the transaction and add it to a block on the blockchain. These blocks are then linked together in a chronological order, forming a secure and transparent ledger of all Bitcoin transactions. Miners are incentivized to validate transactions by receiving newly minted Bitcoins as a reward. This process ensures the security and integrity of the Bitcoin network.
