The digital currency created as an alternative to traditional currencies is known as Bitcoin. Introduced in 2009 by an anonymous entity known as Satoshi Nakamoto, Bitcoin was designed to operate on a decentralized framework utilizing blockchain technology. This innovation allows for secure peer-to-peer transactions without the need for intermediaries, like banks. Bitcoin has since gained significant attention as a store of value, an investment vehicle, and a medium of exchange, challenging traditional financial systems and giving rise to a broader landscape of cryptocurrencies.