Bitcoin is a decentralized cryptocurrency and the largest in the world. The mechanism of Bitcoin was first introduced in a white paper published in 2008 by an author (or group) under the pseudonym Satoshi Nakamoto. Bitcoin was officially launched in January 2009. What makes Bitcoin unique is that it is the first cryptocurrency to be applied in practice.
Bitcoin can be used as a currency for international remittances or investments, and also as a trading tool for holding or using. It paved the way for many other mainstream digital currencies and represents a key moment in digital payment solutions.
Bitcoin operates through "peer-to-peer transmission," meaning no intermediary, such as a bank, is required for transactions. The transaction process is encrypted and stored in a public ledger. All transactions need to be verified and recorded on this public ledger through computer processing to ensure their security.
Reference: CoinMarketCap