Bitcoin is the first decentralized cryptocurrency, 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. Bitcoin transactions are recorded on a public ledger called the blockchain.

Bitcoin's innovative blockchain technology has revolutionized the world of finance, offering secure and transparent transactions without the need for intermediaries. It's no surprise that it paved the way for the rise of numerous other cryptocurrencies.