Who controls the Bitcoin network?

Nobody owns the Bitcoin network much like no one owns the technology behind email or the Internet. Bitcoin transactions are verified by Bitcoin miners which has an entire industry and Bitcoin cloud mining options. While developers are improving the software they cannot force a change in the Bitcoin protocol because all users are free to choose what software and version they use.

In order to stay compatible with each other, all users need to use software complying with the same rules. Bitcoin can only work correctly with a complete consensus among all users. Therefore, all users and developers have a strong incentive to protect this consensus.

The Bitcoin network is basically a term used for all the nodes, which are mining the different transactions assumed by the Bitcoin. Since the network is constituted as “decentralized” or open source as it is developed on the blockchain technology, it proposes a reflection that many people share regarding the ownership or the controls of the Blockchain Network.

Buy Bitcoin from any of these Global Exchanges

Binance

Binance is the fastest growing cryptocurrencies exchange. In the short duration, it has reached the 2nd position among the top volume cryptocurrency exchanges.

Gate.io

Gate.io is a bitcoin exchange platform which supports BTC, LTC, Ethereum, Qtum and more blockchain assets trading.

LocalBitCoins

LocalBitcoins is the largest peer-to-peer service which helps to match Bitcoin buyers and sellers who live close to each other.

Bitmex

BitMEX is built by finance professionals with over 40 years of combined experience and offers a comprehensive API and supporting tools.