As Bitcoin approaches $8,000, learn what the cryptocurrency is all about

Bitcoin, the world’s most famous cryptoocurrency, has reached yet another all-time high today, now valued at a whopping $7,815.

The cryptocurrency and digital payments system was first released as open source software in 2009. It has since had ups and downs, but lately is on a definite upward trajectory. Bitcoin works using Blockchain, a system of continuous “blocks” that are added every time a Bitcoin transaction occurs. The information is open and decentralized, making it inherently transparent and unalterable.

As Bitcoin continues to gather steam, it’s a good idea to familiarize yourself with how it works and its broader implications for the world of payments, banking, financial transactions and more.

The folks at BitcoinPlay have put together this handy infographic to get you started: