Bitcoin operates on a decentralized blockchain network, which is a distributed ledger enforced by a network of nodes. Transactions are verified through cryptography and recorded permanently on the blockchain, ensuring security and transparency. Introduced in 2009 by an anonymous individual or group known as Satoshi Nakamoto, Bitcoin has since become the most widely recognized cryptocurrency. Its scarcity, capped at 21 million coins, contributes to its value and appeal as a digital asset.