Bitcoin | BTC

Overview

◾Bitcoin is a decentralized digital currency used to transfer value across a public, peer-to-peer network. Transactions are recorded on a blockchain, and miners use proof of work to help secure its history. BTC is the network’s native asset: people can send, receive, and hold it without relying on a central issuer. Bitcoin’s issuance follows rules enforced by the network, with a maximum supply of 21 million BTC.Its main uses include payments and holding value, though transaction costs, confirmation times, and price volatility can affect how practical it is for a particular use. ◾Bitcoin launched in 2009 as a peer-to-peer electronic cash system. Its blockchain is a shared transaction record maintained by independently operated nodes. Miners assemble transactions into blocks and compete through proof of work; nodes check blocks against the network’s rules before accepting them. BTC pays for transfers on the network and is issued to miners according to a schedule that reduces the block subsidy roughly every four years. The protocol sets a maximum supply of 21 million BTC. ◾Bitcoin has no single company that controls its network or guarantees its price. People use BTC for direct transfers, payments where accepted, and long-term holdings. Confirming a transaction on the base network can take time, and fees change with demand for block space. The Lightning Network is a separate payment network built around Bitcoin that can support smaller, faster payments; its use involves additional tools and trade-offs. Proposed changes to Bitcoin are distinct from features already active on the network and require their own review and adoption.

Project features

• Peer-to-peer BTC transfers
• public transaction ledger
• proof-of-work security
• independently operated validation nodes
• scheduled issuance with a 21 million BTC maximum supply