Bitcoin is a digital currency, it’s a shared code that creates a global payment network using computers connected to the internet. Bitcoin is created, exchanged, and stored on that network.
Bitcoin is invented by an anonymous person who goes by the name Satoshi Nakamoto, BTC is an open-source software protocol, which means everyone can use it and no one company or person controls it. Every change here is public, open, and transparent.
so what makes BTC a breakthrough, any shared data or information can be corrupted anything can be flawed how do we know that what we’re receiving can be trusted? in finance we rely on third parties for currency like banks, credit card companies, they keep an account of money as it moves from one account to another and they charge a good amount for it.
A financial system that cuts out this middle man can be much faster, cheaper, and more secure, BTC is just an entry on a publicly distributed database called blockchain (read here).
Like banks give you an account here you get a digital wallet, which can be controlled and accessed just by you.
In other words, bitcoin replaces banks and bankers and because every transaction is verified and recorded here it is impossible to forge bitcoin. Or the government can not create billions of BTC as they do with traditional currencies. Too much currency in the economy can unleash the monster, it can skyrocket inflation where you can not buy a loaf of bread with a trillion-dollar banknote.
Its payment without a middleman, investment without a broker, money without a bank, charity without a trustee, record keeping without an accountant. Global, secure, nearly instant, and free.
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