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Bitcoin is the first decentralized cryptocurrency, introduced in 2008 when an unknown person using the pseudonym Satoshi Nakamoto published the white paper “Bitcoin: A Peer-to-Peer Electronic Cash System.” The bitcoin network began in 2009 with the release of open-source software and the mining of the genesis block, marking the start of a new kind of digital money that does not rely on a central authority. It operates through a peer-to-peer network where each node maintains its own copy of a public distributed ledger (the blockchain). Transactions are validated using cryptography and coordinated consensus via proof of work (mining), which helps prevent double-spending and makes tampering with transaction history difficult. Over time, bitcoin gained real-world use as a currency, including adoption by El Salvador as legal tender (later revoked in practice), while also drawing regulatory attention due to its pseudonymous nature and association with illicit activity.
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