Bitcoin is the first global decentralized cryptocurrency developed in 2009 following the ideas set out in a whitepaper by the pseudonymous Satoshi Nakamoto. The currency uses peer-to-peer technology to facilitate instant payments and balances are kept on a public ledger with transparent access to everyone.

Bitcoin is created, distributed, traded, and stored on a decentralized ledger system, known as the bitcoin blockchain. The blockchain is the official record of every bitcoin transaction that has ever been processed.