What is
Bitcoin?
With the advent of the digital age, and thanks to Satoshi Nakamoto’s vision, we are witnessing the evolution of a new form of money: Bitcoin – the only legitimate cryptocurrency secure enough for transacting at scale. Liquid, immune to counterfeit, and universal…bitcoin is simply better money.
Shell
money
1.200 BCE
Coin
money
700 BCE
Paper
money
806
Gold
standard
1816
gold
backend
dollar
1913
Credit
cards
1950
Us dollar
no llonger
gold-
backend
1971
Digital
money
1994
Bitcoin
2008
What is
Bitcoin?
A brief history of Bitcoin
In the order of a few short years, Bitcoin has evolved from magic
internet money to the world’s best digital currency. In terms of
market capitalization, it is the world’s 8th largest currency and
is larger than many S&P 500 companies.
2008
Pseudonymous identity Satoshi Nakamoto publishes the white paper Bitcoin: A Peer-to-Peer Electronic Cash System
2009
In Santa Barbara, California, Hal Finney – noted cryptographic activist – receives the first bitcoin transaction from bitcoin’s creator.
2010
Laszlo Hanyecz completes the first ever transaction of bitcoin for physical goods: 10,000 bitcoin for two pizzas.
2011
Bitcoin reaches parity with the US dollar, with 1 BTC = $1 USD
2012
The first halving occurs, Bitcoin miners who contribute computing power to securing the network see their rewards reduced by half.
2013
Bitcoin’s market capitalization reaches $ 1 Billon USD.
2014
Microsoft, Dell, and Expedia start accepting bitcoin, paving the way for big business adoption.
2015
The Bitcoin Lighthing Network white paper is published, with focus on enabling fast bitcoin transactions at scale.
2016
The second halving occurs.
2017
Segregated Witness (SegWit) – a Bitcoin protocol update – is activated, helping to scale the network and increase privacy.
2018
OpenNode launches “a bitcoin payments platform for every day use”.
2019
Lightning Network goes live on the Bitcoin Mainnet
2020
In the context of a global economy challenged by the COVID-19 pandemic, Bitcoin price soars and institutions step up support.
2021
El Salvador becomes the world’s first country to make Bitcoin legal tender.
Why Use Bitcoin?
Universal
Anyone with internet access can send and receive bitcoin, wherever they are.
Private
Bitcoin payments are a transfer of value, not personal data that allows an entity to move money on your behalf.
Trusted
Bitcoin network security has never been compromised, and is growing in legitimacy and value.
Interoperable
Bitcoin technology is owned by no one and inclusive of everyone.
Benefits of Bitcoin for business
What is the
Lightning Network?
The Lightning Network is a protocol that allows Bitcoin payments to scale.
Bitcoin is open-source, decentralized and distributed technology that enables payments everywhere, without intermediaries.
The Bitcoin blockchain processes an average of 7 transactions per second, and payments take ~10 minutes to be confirmed. Payers pay Bitcoin network fees – a variable cost which can be high relative to lower transaction values
For bitcoin to succeed as a payment method, payments need to settle instantly, process at high volume, and be consistently low cost for payers.
The Lightning Network solves this.
Lightning Network
On – Chain
