Protocol

A protocol is a collection of rules that dictate how a network operates. In Bitcoin, these rules govern everything from transaction validation to block creation, functioning much like a shared rulebook. There is no central authority in charge; instead, every node independently checks and enforces the protocol. Bitcoin’s protocol leverages a blockchain, uses proof-of-work to secure the network, and relies on its native cryptocurrency (bitcoin) to enable peer-to-peer value transfer without intermediaries.