Bitcoin
The first and still most recognizable cryptocurrency, launched in 2009 by the pseudonymous Satoshi Nakamoto.
Bitcoin (BTC) is the first decentralized cryptocurrency, launched in January 2009 based on a whitepaper published a year earlier by a person or group using the name Satoshi Nakamoto. It runs on its own blockchain secured by the Proof of Work mechanism, with no central issuer or intermediary.
The maximum number of bitcoins that will ever be issued is capped at 21 million units, which sets it apart from traditional currencies issued by central banks. Because of this fixed supply and its role as the first and most liquid cryptocurrency, Bitcoin is sometimes called "digital gold" and treated as a benchmark for the entire market.
Related terms
Blockchain
A distributed, immutable ledger of transactions jointly maintained by many independent computers (nodes) in a network.
Proof of Work (PoW)
A consensus mechanism in which computers (miners) compete to solve cryptographic puzzles in order to validate a new block of transactions.
Halving
A halving of the block reward built into Bitcoin's code, occurring roughly every 210,000 blocks (about every four years).
HODL
Slang for the strategy of holding a cryptocurrency long-term regardless of price fluctuations, originating from a typo of the word "hold."
Whitepaper
A technical and business document published by the creators of a crypto project, describing its technology, purpose, and how it works.