Bit-Coin

The name Bitcoin carries significant meaning. On the internet, packets of data are sent and received by connected devices to facilitate communication. Similarly, when bitcoins are sent or received, the transaction is submitted as a packet of data to the network. Bitcoin represents a union of “bit” (data) and “coin” (money), enabling the seamless transfer of monetary value alongside data—a crucial missing piece of the internet’s infrastructure.

Interestingly, the internet already accounted for this concept in its design. The HTTP protocol includes a reserved status code for payments (HTTP 402), intended for use when a suitable digital cash solution emerged. Bitcoin fills this gap, enabling monetary transactions to be integrated natively with data transfer.

In this course, we’ll explore the Bitcoin protocol, which provides the foundation for this innovation. Specifically, we’ll focus on how the BSV blockchain preserves and scales the original design of Bitcoin, making it the only implementation capable of fulfilling its promise as a global payment and data ledger.

We’ll begin our journey into understanding Bitcoin by taking a closer look at the Bitcoin Ledger.