By definition, Bitcoin is the first cryptocurrency in history and also the first application of blockchain technology. Bitcoin is the name of the blockchain and its coin; which can also be referred to by the acronym BTC. The history of Bitcoin began in 2008 when Satoshi Nakamoto published a document online in which he explained that he had created a payment system that was independent of banks, unbound by geographical and political limits, and resistant to inflation. Nakamoto’s identity is unknown, it is not even known whether the creator of Bitcoin is an individual or a group of people, but his creation has revolutionised the global economic and technological system. Bitcoin, in a nutshell, is a peer-to-peer, i.e. without intermediaries, and decentralised electronic payment system. 

Bitcoin’s origins can be traced back to at least two elements. Although Nakamoto was its creator, the ideas and concepts behind Bitcoin were shared by many even earlier, mainly by representatives of the cypherpunks, a group of digital privacy activists. Bitcoin’s basic technology is cryptography, which makes transactions pseudo-anonymous: the identity of the contracting parties is replaced by alphanumeric strings. 

Moreover, the history of Bitcoin is closely linked to the historical period in which it was conceived. The year 2008 was the height of a worldwide economic crisis that led to a loss of confidence in financial systems: Bitcoin was born as an alternative economic system, wanting to be the starting point for building different monetary policies. 

At the moment Bitcoin is mainly traded, however in order to be used as a currency for everyday transactions, Bitcoin’s blockchain relies on a decentralised and parallel network of nodes called the Lightning Network. This system allows a large amount of transactions to be processed in a limited time frame. Some think that Bitcoin has the potential to be considered as a safe haven asset, and therefore attribute it the name of “digital gold”.

From a technical point of view, the blockchain on which BTC is based uses a Proof-of-Work consensus mechanism. Thus, the blocks that make up the shared transaction register are created and validated through mining. A Bitcoin, like all cryptocurrencies, is fungible, hence divisible into smaller units. In the case of BTC, these cryptocurrency parts are called ‘satoshi’: 1 satoshi corresponds to 0.00000001 Bitcoin. According to Nakamoto’s protocol, there are only 21 million Bitcoins, some of which have yet to be mined. Bitcoin’s scarcity counteracts its inflation: as a scarce asset, the value of BTC depends on the law of supply and demand. 

Correlated words


Hawkish monetary policies involve raising interest rates to combat inflation, prioritising monetary stability and economic control.


Dovish monetary policy is characterised by low-interest rates and higher employment levels, aiming to stimulate and foster economic growth.


Registries are organizations overseeing the administration and management of top-level domain information on the internet.


A URL (Uniform Resource Locator) is a unique string of characters that provides the address of a specific resource on the World Wide Web.

IP address

An IP Address is a unique numerical label assigned to each device connected to a network, identifying it for communication purposes.

Web 3.0

Web 3.0, often linked to the Semantic Web, signifies the next evolution of the internet, emphasizing data interoperability and user control.


ICANN (Internet Corporation for Assigned Names and Numbers) manages the global domain name system and IP address allocation.


Registrars are organizations responsible for the registration and management of domain names on the internet.


The Domain Name System (DNS) is a hierarchical structure that maps domain names to their corresponding IP addresses on the internet.


The Top-Level Domain (TLD) is the highest part of the domain name structure, appearing at the end of web addresses.

Financial Market

The Financial Market is a structured space for trading financial securities, including stocks, bonds, and other investment vehicles.


Cashback is a reward program where a portion of the amount spent on a transaction is returned to the spender.


Web3 marks the third evolution of the web, characterised by a shift in the economic and technological landscape driven by blockchain.

Wallet address

The Wallet address is a unique string of characters identifying a cryptocurrency wallet for transactions and asset management.


Stablecoins are cryptocurrencies whose value is pegged to stable assets like fiat currencies or precious metals, aiming to reduce volatility.


Custody in cryptocurrency involves managing a wallet by oneself, ensuring control over the associated private key.

White Paper

A White paper is a detailed document used by crypto projects to outline their technological innovations and proposals.


A Wallet is a digital software designed for securely sending, receiving, and storing various cryptocurrencies.

Virtual Currency

Virtual Currency is a legal term encompassing digital currencies, including cryptocurrencies, used in various financial transactions.

Fiat Currency

Fiat Currency is government-issued legal tender, not backed by physical commodities, serving as the standard medium of exchange.


A Token is a digital asset created on an existing blockchain, representing value or utility within its native ecosystem.

Satoshi Nakamoto

Satoshi Nakamoto, the pseudonymous creator(s) of Bitcoin, remains a mystery with no known true identity and no current online presence.


Open-source software offers publicly accessible source code, allowing collaborative use, modification, and distribution.


KYC (Know Your Customer) is an identity verification process mandated by European regulations for Financial intermediaries.

Hard Fork

A Hard Fork represents a significant split in a blockchain due to protocol incompatibilities between new and existing versions.

Hot Wallet

A Hot Wallet is a cryptocurrency wallet that remains connected to the internet, offering easy access and management of digital assets.


Halving refers to the event where the reward given to miners for producing blocks on the Bitcoin blockchain is cut in half.


FinTech combines finance and technology, where companies innovate in financial services using advanced technological solutions.


Cryptography, a crucial component of secure communication, is the study and application of techniques for protecting information.


Cryptocurrency is a digital or virtual currency using cryptography for security, operating on a decentralised blockchain system.


A Coin is a primary form of cryptocurrency that operates independently on its blockchain, serving various transactional purposes.

Public Key

A Public Key is a unique cryptographic code for identifying a blockchain cryptocurrency wallet and is associted with a private kwy..

Private Key

A Private Key is a unique secure cryptographic code granting access to a cryptocurrency wallet and is associated with a public key.


APIs (Application Programming Interfaces) streamline the development of applications and web services by integrating functionalities.


Altcoins are cryptocurrencies launched after Bitcoin, offering alternative blockchain-based solutions and functionalities.


Anti-Money Laundering (AML) regulations are designed to prevent illegal activities and financial crimes in centralised exchanges.


An algorithm is a set of procedures or rules designed to perform specific tasks or solve problems integral to software development.


Exchanges provide services for buying and selling digital assets, operating on market-driven prices and facilitating cryptocurrency trade.

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