Consider the following statements about Bitcoin:

Question

Consider the following statements about Bitcoin:

(i) Bitcoin is a cryptocurrency.

(ii) It is the first decentralized digital currency.

(iii) The system works as a peer-to-peer network called the blockchain.

Which of the above statements are correct?

1. A. (i) only
2. B. (i) and (ii) only
3. C. (i) and (iii) only
4. D. (i), (ii) and (iii) (Correct answer)

Correct Answer

Option D — (i), (ii) and (iii)

Detailed Solution & Explanation

The correct answer is (i), (ii) and (iii).

Key Points

• All three statements about Bitcoin are correct.
• (i) Bitcoin is a cryptocurrency — a decentralized digital currency.
• (ii) It is the first decentralized digital currency, created by Satoshi Nakamoto in 2009.
• (iii) Bitcoin operates as a peer-to-peer network using blockchain technology — a distributed ledger that records all transactions publicly and immutably.