Satoshi Nakamoto posted on an obscure cryptography discussion board in 2008. This whitepaper, titled Bitcoin: A Peer-to-Peer Electronic Cash System, introduced the world to Bitcoin, a totally digital money that was based on a peer-to-peer network and the forerunner of the digital assets known as cryptocurrencies. Although electronic cash and payment systems like PayPal already existed, what made Bitcoin special was the creative integration of a distributed ledger system and information transmission that was cryptographically secure. As a result of these two key features, the Bitcoin protocol proved to be private, secure, and immutable. With organisations versed with cryptography, the science of encrypting and safeguarding data, these qualities made Bitcoin popular.
The peer-to-peer transactions made possible by Bitcoin are absolutely devoid of the necessity for a third party to function as a facilitator, earning praise from the data-security specialists in the cryptography forums.