A favorable comparison of Bitcoin as the most popular cryptocurrency with the entire list of cryptocurrencies.

Bitcoin dominance refers to the fact that Bitcoin is the largest cryptocurrency using market capitalization. Originally, because it was the first digital currency, Bitcoin enjoys the widest coverage and investment. At various points, its market capitalization has been equal to or more than the aggregated market cap of all other cryptocurrencies. While the proportion fluctuates from period to period, Bitcoin is the dominant cryptocurrency.

The first recorded exchange of cryptocurrency with a tangible product, pizza.

Bitcoin Pizza refers to the first ever use of cryptocurrency to buy something tangible and physical. This was far back in May 22, 2010, and involved a software developer named Laszlo Hanyecz who paid 10,000 units of Bitcoin (BTC) for a couple of pizzas. At the time, 10,000 BTC was equivalent to about $41.

The Bitcoin Pizza phenomenon is often used to describe the growth process of Bitcoin and wide usage of cryptocurrency compared to Hanyecz’s time. It is the proverbial first lighting of the electric bulb and serves as a historical framework for the potential of digital currencies and their applications in the real world.

A popular open source software associated with the Bitcoin network which allows users to run nodes on the network.

Bitcoin Core is an open-source software on the Bitcoin network. It serves as a framework for user interaction, effectively letting members of the network run nodes. Bitcoin Core also functions as a native crypto wallet that lets its users oversee and verify transactions on any block. Thus, it is an interface that some Bitcoin users employ to directly supervise crypto transactions.

Bitcoin Core was developed by the presumably pseudonymous person or group of persons named Satoshi Nakamoto as Bitcoin. And the goal was to give users more power over their money.

Bitcoin Dominance

Previous term

Next term