Bitcoin is the first decentralized ‘cryptocurrency’ — a general term for digital currencies.
Satoshi Nakamoto, a person or group that has remained anonymous, first invented Bitcoin in 2008.
Bitcoin became an open source software in the year 2009, which led to many cryptocurrencies emerging with the same system and structure.
However, Bitcoin remains the most popular.
To record Bitcoin activity, the invention of a public ledger called blockchain started playing an important role in sharing the transactions of the cryptocurrencies both chronologically and publicly.
This new method of processing transactions and trade in a secure manner has taken off as a solution to solving many supply chain problems such as tracking where products originate.
View the infographic below from Bitcoinfy to learn more about blockchain and cryptocurrencies.