Glossary > Bitcoin
Bitcoin is a cryptocurrency relying on blockchain technology and allowing users to make P2P value transfers without the intervention of any third parties.
Bitcoin (BTC) is the first cryptocurrency created and runs on the Bitcoin blockchain. An anonymous person or group named Satoshi Nakamoto created it in 2008. Bitcoin relies on blockchain technology and allows users to make P2P value transfers without the intervention of any third parties. A few characteristics of Bitcoin are:
– it is the first cryptocurrency by market capitalization
– it relies on a proof-of-work (PoW) consensus
– the limited total supply of Bitcoins is 21 million units
Since its creation, the use of Bitcoin largely increased with even a growing number of institutions adopting the cryptocurrency.