Blockchain is a distributed ledger technology that underlies most cryptocurrencies, including Bitcoin. It is essentially a decentralized database or ledger that records transactions across a network of computers in a secure and transparent way. Instead of relying on a central authority to maintain and verify the transactions, blockchain uses a consensus mechanism among participants in the network.

Bitcoin is the first and most well-known cryptocurrency, created by an unknown person or group of people using the pseudonym Satoshi Nakamoto. It was introduced in a 2008 whitepaper titled "Bitcoin: A Peer-to-Peer Electronic Cash System." The Bitcoin network officially came into existence with the mining of the first block, known as the "genesis block," in January 2009.

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