What is Bitcoin?
Bitcoin is the currency that is backed by block chain. Similar to the Gold standard that was in place, it has a finite amount of money of that exists.
The blockchain is the technology that is used when Bitcoin is validated, as there is no central banking system to validate the technology. This means that no currenecy can be added without the community supporting it. Resulting in a more stable and protected system of currency.
Cryptocurrency is the new digital age of money for consumers and business, a world currency that is not subject to inflation or exchange rates.
Why is this needed? Electronic payment system based on cryptographic install a level of trust, allowing any two willing parties to transact directly with each other without the need for a trusted third party. Transactions that are computationally impractical to reverse would protect sellers from fraud, and routine escrow mechanisms could easily be implemented to protect buyers.
You can check the price of Bitcoin on the ticker located on the top of the page.