⁣Cryptocurrencies operate on decentralized networks, typically based on blockchain technology. This means they are not controlled by a central authority, such as a government or financial institution. This decentralization provides a level of security, transparency, and resistance to censorship.

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⁣The legal status of Bitcoin varies by country, with some nations embracing it, while others have imposed restrictions or bans. Regulatory developments can impact the use and acceptance of Bitcoin.

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⁣Bitcoin explanation

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