Bitcoin is the first and most well-known cryptocurrency, created in 2009 by an anonymous individual or group using the pseudonym Satoshi Nakamoto. It is decentralized, meaning that there is no central authority controlling it, and transactions are recorded on a public ledger called the blockchain.
Bitcoin is created through a process called mining, in which specialized computers solve complex mathematical problems to validate transactions and add them to the blockchain. The total supply of bitcoin is capped at 21 million, which helps to prevent inflation.
Bitcoin has been praised for its potential to democratize access to financial services and its security, but it has also been criticized for its volatility and potential for illicit activities. Despite these challenges, bitcoin has become a widely accepted form of payment and has inspired a new generation of cryptocurrencies.
