Bitcoin is both a cryptocurrency and the software that enables it. Let’s think of the currency as “BTC” and the network as “Bitcoin.”
Created in 2008, BTC is the world’s first decentralized cryptocurrency, a form of electronic cash. It is a digital currency that works without the need for any third parties like central banks. As such, users can trade BTC directly, without any middlemen. The subunits of BTC are called millibitcoin (1⁄1000) and satoshi (1⁄100000000).
The creator of both the Bitcoin network and BTC is known by the pseudonym Satoshi Nakomoti. However, this person’s true identity remains unknown.