Bitcoin (BTC)
The first widely adopted cryptocurrency, using proof of work and a fixed 21 million coin supply.
- Acronym
- BTC
- Also known as
- BTCBitcoin (BTC)
Bitcoin (BTC) is a decentralized digital currency introduced by Satoshi Nakamoto in 2009. It lets users send value over a peer-to-peer network without a central issuer, with transactions recorded on a public blockchain.
Bitcoin uses Proof of Work, where miners spend energy and hardware resources to compete for blocks. Nodes enforce the consensus rules, including the 21 million coin supply cap and valid transaction requirements.
Bitcoin's base layer has limited block capacity, which can lead to higher fees during congestion. Scaling approaches include fee markets, batching, SegWit, and layer-2 systems such as Lightning. Bitcoin Cash split from Bitcoin in 2017 to pursue larger base-layer blocks.
Related terms
3 linkedExplore connected entries beyond the alphabetical index.
Blockchain
→A distributed ledger made of cryptographically linked blocks that record transactions under shared consensus rules.
Bitcoin Cash (BCH)
→A Bitcoin-derived cryptocurrency focused on low-fee, peer-to-peer electronic cash with larger on-chain blocks.
Mining
→The process by which new coins or tokens are minted and transactions are confirmed on a blockchain through computational work.
All terms and definitions may update as the Cryptionary improves.
