Blockchain Glossary


Published on August 30th, 2021

Bitcoin is a type of digital cryptocurrency. Functionally, it serves the same purpose as U.S. dollars or Japanese yen, except that it’s not tied to a central bank and isn’t regulated by a government body such as a treasury.

Bitcoin transactions take place entirely online and offer a degree of anonymity to users, and they are securely recorded in a public ledger called a blockchain. Users purchase bitcoins in an exchange and have the option of “storing” them in a digital cryptocurrency wallet.