Bitcoin(BTC)
The first and largest cryptocurrency, created by Satoshi Nakamoto in 2009 as a peer-to-peer electronic cash system.
In-Depth Explanation
Bitcoin solved the double-spending problem without trusted intermediaries using proof-of-work consensus. It has a fixed supply of 21 million coins, with issuance halving every ~4 years. Bitcoin is often called 'digital gold'—a store of value thesis that has largely superseded its original payment focus. It remains the most decentralized and battle-tested cryptocurrency.
Related Terms
Proof of Work
PoWA consensus mechanism where miners compete to solve computational puzzles, with the winner adding the next block and earning rewards.
Satoshi
satThe smallest unit of Bitcoin, equal to 0.00000001 BTC (one hundred millionth of a bitcoin).
Halving
A programmed reduction in block rewards (typically by 50%) that occurs at set intervals, reducing new token issuance.
Mining
The process of using computational power to validate transactions and add new blocks to a proof-of-work blockchain.
More in Infrastructure
View all →Gas Fees
Transaction fees paid to validators/miners for executing operations on a blockchain.
Gwei
A denomination of Ether equal to one billionth of an ETH, commonly used to express gas prices.
Layer 2
L2Scaling solutions built on top of a base blockchain (L1) that process transactions off-chain while inheriting L1 security.
Layer 1
L1The base blockchain that provides security and consensus, such as Ethereum, Bitcoin, or Solana.