Transition to Web3 - Course 3 | Transactions and Bitcoin
By incorporating transactions on a blockchain, you create a decentralized and dependable record of transactions, i.e. a distributed ledger.
Such a system can keep track of common currency (e.g. US dollars) transactions, but it can also keep track of transactions in other currencies as well. It can even support a financial system using a made-up digital currency as “money.”
The Bitcoin network enables a financial system based on its native digital currency "bitcoin."
Of course, for people to start trading with this money, some money needs to be injected into the system. But how can a digital currency just be created out of thin air, you ask?! 👻 Good question.