Cryptocurrency Q&A Is bitcoin a currency or a protocol?

Is bitcoin a currency or a protocol?

TeaCeremony TeaCeremony Mon Jul 15 2024 | 0 answers 0
When it comes to the discussion surrounding Bitcoin, one of the fundamental questions that often arises is: is Bitcoin truly a currency, or is it a protocol? The question is not merely semantic, as it delves into the core nature and function of this digital asset. Proponents of Bitcoin as a currency argue that it fulfills the basic functions of money, such as being a store of value, a unit of account, and a medium of exchange. However, others view Bitcoin as a protocol, emphasizing its underlying technology - the blockchain - and its potential for facilitating transactions, smart contracts, and more. So, what is the truth? Is Bitcoin a currency, a protocol, or perhaps both? Let's explore the nuances of this intriguing debate. Is bitcoin a currency or a protocol?

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