---
title: Bitcoin
url: "https://www.unknowngravity.com/en/glosario/bitcoin"
site: Unknown Gravity
published: "2025-06-07T15:38:47+00:00"
modified: "2026-07-15T10:51:28+00:00"
language: en-US
description: "Bitcoin It's a network Decentralized peer-to-peer, based on a open cryptographic protocol, which allows you to perform financial transactions without the need for intermediaries."
section: "Home > Bitcoin"
---

# Bitcoin

GLOSSARY · BLOCKCHAIN & WEB3

The first decentralized cryptocurrency that revolutionized digital finance.

WHAT IS IT? · FOR DUMMIES

**Bitcoin** is like digital money that you can send online to anyone in the world without having to use a bank or card. It works 24 hours a day, every day, and there is no one to control it. Instead of trusting a company, the network ensures that everything works well using mathematics and technology.

WHAT IS IT? · PRO

**Bitcoin** It's a network **Decentralized peer-to-peer**, based on a **open cryptographic protocol**, which allows you to perform **financial transactions without the need for intermediaries**. Its infrastructure is based on a **blockchain**, where each block contains a set of verified transactions cryptographically linked to the previous block, forming an immutable and transparent record. It was proposed by **Satoshi Nakamoto** in 2008 as a response to the centralization of the traditional financial system.

Bitcoin operates through a consensus system called **Proof of Work (PoW)**, in which miners compete to solve complex cryptographic problems in exchange for BTC rewards. This architecture guarantees the **security, integrity and resistance to censorship** of the system. The issuance of bitcoins is limited to **21 million units**, which gives it deflationary characteristics and makes it a scarce and predictable asset in monetary terms.

Beyond being a digital currency, Bitcoin acts as a **global settlement system**, a **store of value** and an alternative to fiat money, especially in contexts of inflation, financial restrictions or lack of banking access. Its network is public, transparent and audited by anyone, but at the same time it offers pseudonymity and financial sovereignty to the user.

The Bitcoin ecosystem also allows for advanced use cases through **Sidechains** such as RSK, scaling solutions such as **Lightning Network**, and self-custody tools that strengthen privacy and individual control. Although its functionality is intentionally more limited than in programmable blockchains such as Ethereum, its focus on **security, simplicity and decentralization** has established it as the global cryptocurrency standard.

## 01 / Key points

- It's a decentralized network for transferring value without banks or governments
- Use a public and secure blockchain to record all transactions
- It employs a Proof of Work (PoW) consensus mechanism
- It has a limited supply of 21 million bitcoins
- It is pseudonymous, censorship-resistant and globally operable

## 02 / Advantages

- **Transactions without intermediaries**: direct, global and uncensored
- **Proven safety**: more than a decade without critical interruptions
- **Limited offer**: protection against monetary inflation
- **Real decentralization**: no one controls Bitcoin
- **High liquidity and adoption**: accepted and operated on thousands of platforms

## 03 / Disadvantages

- **Limited speed and scalability** in the base layer
- **High energy consumption** due to the Proof of Work system
- **Significant price volatility** in short periods
- **Not suitable for complex smart contracts**
- **Learning Curve** for new users in matters of custody and security

RELATED CONCEPTS

[Blockchain](/en/glosario/blockchain) [Cryptocurrency](/en/glosario/criptomoneda) [Node](/en/glosario/nodo) [Hash](/en/glosario/hash) [Proof of Work (PoW)](/en/glosario/proof-of-work-pow)

KEEP LEARNING

[Bitcoin vs Ethereum: what are the differences between these cryptocurrencies?](/en/articulos/bitcoin-vs-ethereum) [Transparent choices thanks to blockchain technology](/en/articulos/como-garantiza-blockchain-unas-elecciones-limpias-y-seguras) [Future blockchain developments](/en/articulos/futuros-desarrollos-de-blockchain) [Exploring the most popular blockchain-based cryptocurrencies.](/en/articulos/explorando-las-criptomonedas-mas-populares-basadas-en-blockchain) [The crypto market in full change: are we facing a new financial era?](/en/articulos/el-mercado-cripto-en-pleno-cambio-estamos-ante-una-nueva-era-financiera)

RELATED SERVICES

[Blockchain consulting for companies](/en/servicios/asesoria-blockchain) [Blockchain protocol development](/en/servicios/desarrollo-de-protocolos-blockchain) [Blockchain consulting for companies](/en/servicios/consultoria-blockchain) [Whitepapers](/en/servicios/whitepapers)

[Full glossary](/en/glosario)

This entry is informative. It is not legal, tax or investment advice. The rules cited change: check the current version on [BOE](https://www.boe.es) and [EUR-Lex](https://eur-lex.europa.eu).