It's not a new idea for having a digital currency. As a theoretical structure, cryptocurrency existed long before the first digital alternative currencies began to develop. Although Bitcoin was the first cryptocurrency created, previous attempts had been made to build online currencies with encrypted ledgers. Several developers and innovators had the concept of money to exist in the digital world.
In 2008 a white paper “Bitcoin: A Peer-to-Peer Electronic Cash System” was written by somebody named Satoshi Nakamoto, explaining the functionality of the Bitcoin blockchain network. The Nakamoto 's identity has always been a secret. Different research efforts have been made to know who this person is and whether they have used a pen name; some even suggest that it's a pen name representing several individuals. In 2009 Bitcoin was developed as the first decentralized cryptocurrency and the first Bitcoin transaction was made on 12 January 2009 by Satoshi Nakamoto. 10 BTC was forwarded to a coder called Hal Finney.
