BTCitcoin is a type of unregulated digital currency that was first created by Satoshi Nakamoto in 2008. Also known as a “cryptocurrency,” it was launched with the intention to bypass government currency controls and simplify online transactions by getting rid of third-party payment processing intermediaries. Of course, accomplishing this required more than just the money itself. There had to be a secure way to make transactions with the cryptocurrency. BTCitcoin transactions are stored and transferred using a distributed ledger on a peer-to-peer network that is open, public and anonymous.

Blockchain is the underpinning technology that maintains the Bitcoin transaction ledger.