Bitcoin was introduced in 2009 by developer "Satoshi Nakamoto". It allows users to be part of the network as a user to engage in transaction or a miner to engage in processing of transactions, or both.
The 'Block Chain' is the data of all the transactions that have occurred on the Bitcoin network since its introduction. The 'Block Chain' is maintained across the network of computers using the network - this creates a very strong record. Payments are not transferred into your WALLET, but are simply transferred as a record on the 'Block Chain', but you need the data contained in your wallet, and your password to access the Bitcoins attached to a Bitcoin Receive Address. The Bitcoin 'miners' provide the network infrastructure for the transactions to occur, and are rewarded sometimes with very small transaction fees and also with newly minted Bitcoins that are increasingly difficult to 'mine & mint'. The production of Bitcoin is planned to approach approx. 21,000,000 Bitcoins.
Because it is open source, this has allowed a variety of other networks to be created quickly based on the Bitcoin program.
See more at: http://www.bitcoin.org
https://blockchain.info
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