Bitcoin is the first decentralized digital currency, created in 2009 by an unknown person using the pseudonym Satoshi Nakamoto. It operates on a peer-to-peer network without the need for a central authority or intermediaries. Bitcoin transactions are verified by network nodes through cryptography and recorded on a public ledger called a blockchain.

Bitcoin revolutionized the world of finance by introducing a decentralized system that operates independently of governments and financial institutions. Its innovative technology has paved the way for a new era of digital currency.