Bitcoin (BTC) is the first decentralized digital currency, introduced in 2009 by the pseudonymous Satoshi Nakamoto. It operates on a peer-to-peer network without the need for intermediaries like banks, using blockchain technology to record transactions transparently and securely .
Bitcoin's supply is capped at 21 million coins, a design choice that introduces scarcity and positions it as a potential store of value, often referred to as "digital gold" . Transactions are verified through a process called "proof-of-work," where miners solve complex cryptographic puzzles to add new blocks to the blockchain .
While Bitcoin has gained acceptance among various merchants and investors, its volatility, scalability issues, and regulatory challenges continue to be points of discussion. Nonetheless, it remains a significant innovation in the realm of digital finance.