Bitcoin and other cryptocurrencies are digital forms of currency. The technology behind them was developed by a mysterious person known as Satoshi Nakamoto. They do not have any central government or bank that controls them. All transactions between cryptocurrency tokens take place on a public ledger, known as the blockchain. This database stores all digital information. The blockchain technology is used to create an online ledger that tracks all cryptocurrency transactions. It offers a highly secure data structure and is independent from a central banking authority.