Bitcoin is an experimental ownership transfer and verification system based on a peer-to-peer network without any central authority.
The initial application and main innovation of the Bitcoin network is a decentralized digital currency whose unit of account is bitcoin.
Bitcoin works with software and a protocol that allows participants to issue bitcoins and manage transactions collectively and automatically. As a free protocol (open source code), it also allows interoperability of software and services that use it. As a currency, bitcoin is both a payment intermediary and a store of value.