BITCOIN: a new-age Digital Currency What is Bitcoin? Bitcoin is new-age digital currency used as medium of exchange which uses cryptography to control its creation and management. It’s decentralised in nature i.e., no central authority or institution controls its network and allows the users to spend the money anonymously. It involves transfer of currency by sending an e-mail or text message to a person using a wallet app and typing the details of recipient. It is called as cryptocurrency as it uses a different encrypted code for every single transaction. Cryptography is an art of writing and solving codes. Thus, each letter or word or any component of the language can be mapped to arbitrary characters, letters, pixels and numbers so that it is not readable without the proper key. One can use real money to buy bitcoins. Let’s understand bitcoin mining now. What is Bitcoin Mining? Bitcoin mining is a complex computing and mathematical process by which the bitcoin miners bring new bit