Bitcoin is the first digital currency that decentralizes trust using the novel Proof-of-Work consensus mechanism.

It was created in 2009 by an unknown individual or group of people using the pseudonym Satoshi Nakamoto. Unlike traditional currencies, which are backed by central banks, Bitcoin is not backed by any central authority and operates independently of banks and other financial institutions. Instead, it relies on a network of computers running the Bitcoin software to verify and validate transactions, which are recorded on a public ledger called the blockchain.

The value of Bitcoin is determined by supply and demand on exchanges, and it has been extremely volatile since its inception.

Some people use Bitcoin as token to gain write access to the most secure database in the world, others as an investment or as a means of exchange for goods and services.

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