The Reliability of the Bitcoin Network

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Much of the trust in Bitcoin comes from the fact that it is a fully open-source and it is decentralized. This means that anyone has access to the entire source code at any time. Any developer in the world can, therefore, verify exactly how Bitcoin works. All transactions and bitcoins issued into existence can be transparently consulted in real-time by anyone. All payments can be made without reliance on a third party and the whole system is protected by heavily peer-reviewed cryptographic algorithms like those used for online banking. No organization or individual can control Bitcoin, and the network remains secure even if not all of its users can be trusted.

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