Bitcoin is the world's first decentralized cryptocurrency built on blockchain technology. Bitcoin was launched in January 2009 by a pseudonymous person or organization, Satoshi Nakamoto. BTC is the name and ticker of the Bitcoin blockchain network.
The Bitcoin network allows users to transact value directly without going through intermediaries like banks or other financial institutions. Bitcoin transactions are validated by nodes called miners. To validate Bitcoin transactions, miners generate a cryptographic proof of work by solving the mathematical problem set by the Bitcoin protocol.
Bitcoin has a hard-capped supply of 21 million units, making it a deflationary asset. Out of 21 million Bitcoins, over 18.9 million are already in circulation. Miner nodes are rewarded with Bitcoins to verify Bitcoin transactions which are how new Bitcoins enter circulation. Additionally, the Bitcoin miner rewards are decreased by half every four years, further reducing the rate of Bitcoin inflation.
Bitcoin's fixed supply, decentralization, and security have made it the most popular cryptocurrency to date. In fact, Bitcoin remains the world's largest cryptocurrency by market capitalization even a decade after its launch.