Bitcoin is the first and most well-known cryptocurrency, introduced in 2009 by an anonymous entity known as Satoshi Nakamoto. It operates on a decentralized peer-to-peer network, allowing users to send and receive digital currency without the need for intermediaries like banks. Bitcoin transactions are recorded on a public ledger called the blockchain, ensuring transparency and security. Its limited supply of 21 million coins makes it a deflationary asset, often compared to digital gold.