In the previous module, we discussed the question of identity on the bitcoin network. Bitcoin wallets hide away all the complicated details and let you interact with them like you would with a bank.

But, if there is no central authority, how do transactions occur on the bitcoin network? What are the rules for validating transactions, and, indeed, who validates them?

How many bitcoins are there? Can new ones be created the way governments create more money? We will look at all this in the current module.