Source. Crypto info.com
What is Bitcoin?
Bitcoin is the original cryptocurrency, created in January 2019 following the devastating financial collapse. It was created by someone (or a group of people) calling themselves Satoshi Nakamoto- and it's still a mystery who they were.
Bitcoin is powered by a decentralized blockchain. A blockchain is essentially blocks of data that form a database that cannot be altered after it has been created, with information regularly added to it that reflects every transaction made on the Bitcoin network. Blockchain's are decentralized by being stored on thousands of computers across the world- making them especially resistant to failure.
The Bitcoin blockchain is transparent- anyone can see where coins are being sent and which wallets hold coins. What's hard to know is who owns which wallets- making it a virtually anonymous payment system unless a lot of time and effort is spent following a Bitcoin's trail across the blockchain.
Any amount of Bitcoin can be quickly sent anywhere around the world for a fraction of a dollar and are independent of the world banking systems- making it a powerful alternative currency.