Bitcoin is the first decentralised digital currency. They are digital coins that you can use on the internet to transact with or to use as a store of value. As Bitcoin is a peer-to-peer network, transactions take place between users directly without a third party that verifies the transaction.

The invention that makes this possible is the so-called Blockchain. The thousands of blockchain nodes verify the bitcoin transactions that happen between two parties, and for doing so, the nodes (also called miners) receive a reward in the form of newly created bitcoin and a transaction fee.

The inventor of the Bitcoin protocol goes by the nickname Satoshi Nakamoto and until today it’s still unknown who exactly this person (or group of people) is.