Satoshi Nakamoto is the name of the unknown person or people who invented or designed Bitcoin, but they do not own Bitcoin. Bitcoin was released in 2009 and is a cryptocurrency and worldwide payment system. It is the first decentralized digital currency and works without a central bank. It is a peer-to-peer network and transactions take place between users directly. Network nodes verify these transactions through the use of cryptography (A node is a computer connected to the Bitcoin network). The transactions are then recorded in a ledger called a blockchain which is publicly distributed.