Bitcoin

Bitcoin is the earliest digital cryptocurrency used for Peer-to-Peer, encrypted transactions without the need for a central entity. It is now used as a virtual currency for the exchange of goods and services worldwide without involving traditional banking and financial authorities. The credit for the development of Bitcoin goes to an anonymous person or a group of people who published a paper in 2008 under the name Satoshi Nakamoto.

Bitcoins are awarded to users who participate in solving a mathematical problem to add a new block in the blockchain to validate a transaction or to add new information. Bitcoins have the highest value in USD among all cryptocurrencies worldwide.