What is Bitcoin? Understanding the World's First Cryptocurrency

Bitcoin, created by the pseudonymous Satoshi Nakamoto in 2009, is the world's first and most well-known cryptocurrency. It operates on a decentralized network using blockchain technology, allowing for secure peer-to-peer transactions without the need for intermediaries.

Key Concepts

• Decentralized digital currency
• Blockchain technology
• Limited supply (21 million BTC)
• Peer-to-peer transactions
• Cryptographic security

Bitcoin Units

The smallest unit of Bitcoin is called a Satoshi, named after its creator. One Bitcoin equals 100 million Satoshis, allowing for precise microtransactions.