$BTC

Bitcoin (BTC) is the first and most well-known decentralized cryptocurrency. Created in 2009 by an anonymous entity known as Satoshi Nakamoto, it operates on a peer-to-peer network using blockchain technology. This means transactions are verified and recorded on a public, distributed ledger without the need for a central authority like a bank.

The core innovation of Bitcoin, as outlined in the 2008 whitepaper "Bitcoin: A Peer-to-Peer Electronic Cash System," was to enable secure, transparent, and censorship-resistant digital transactions by using cryptography to prevent double-spending. New bitcoins are created through a process called "mining," which also serves to secure the network. The supply of Bitcoin is capped at 21 million coins, a feature that contributes to its scarcity and store-of-value proposition.

Initially conceived as a digital cash system, Bitcoin has evolved to be seen by many as a digital asset and a store of value, sometimes referred to as "digital gold." While its value has experienced significant volatility, it has gained widespread adoption and has inspired the creation of thousands of other cryptocurrencies. Bitcoin can be bought, sold, and used for transactions where accepted, and its underlying blockchain technology has found applications beyond just currency.