What is Bitcoin?

Bitcoin is the first and most well known cryptocurrency, created in 2009 by an unknown person or group using the pseudonym Satoshi Nakamoto. It operates on a decentralized peer to peer network without the need for a central authority or intermediary like a bank. Bitcoin transactions are recorded on a public ledger called the blockchain, which uses cryptography to secure and verify transactions. It often used as a digital store of value and a medium of exchange, allowing users to send and receive payments globally without the need for traditional financial intermediaries.