Bitcoin Network definition

Bitcoin Network means the online, end-user-to-end-user network hosting a public transaction ledger, known as a blockchain, and the source code comprising the basis for the cryptographic and algorithmic protocols governing the Bitcoin Network.
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Bitcoin Network means the online, end-user-to-end-user network associated with bitcoin and hosting a public transaction ledger, known as a blockchain (the "Bitcoin blockchain"), and the source code comprising the basis for the cryptographic and algorithmic protocols governing the Bitcoin network, as determined by the Sponsor.
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Bitcoin Network means the network of computers running the software protocol underlying bitcoin, which maintains the database of bitcoin ownership and facilitates the transfer of bitcoin among parties.
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Examples of Bitcoin Network in a sentence

  • The decentralized nature of the Bitcoin Network allows parties to transact directly with one another based on cryptographic proof instead of relying on a trusted third party.

  • The protocol also lays out the rate of issuance of new bitcoin within the Bitcoin Network, a rate that is reduced by half approximately every four years with an eventual hard cap of 21 million.

  • No single entity owns or operates the Bitcoin Network, the infrastructure of which is collectively maintained by a decentralized user base.

  • Various foreign jurisdictions may, in the near future, adopt laws, regulations or directives that affect the Bitcoin Network and its users, particularly Bitcoin Exchanges and service providers that fall within such jurisdictions’ regulatory scope.

  • In its Order, the CFTC found that Bitfinex engaged in “illegal, off-exchange commodity transactions and failed to register as a futures commission merchant” when it facilitated borrowing transactions among its users to permit the trading of bitcoin on a “leveraged, margined or financed basis” without first registering with the CFTC.Local state regulators such as the NYSDFS have also initiated examinations of bitcoin, the Bitcoin Network and the regulation thereof.


More Definitions of Bitcoin Network

Bitcoin Network means the peer-to-peer Bitcoin computer network.
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Bitcoin Network means the open source protocol of the peer-to-peer bitcoin computer network upon which Bitcoin is based.
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Bitcoin Network means the Bitcoin Blockchain and any digital asset network, including the Bitcoin peer-to-peer network.
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Bitcoin Network means the decentralized peer-to-peer payment network used to transfer bitcoins.
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Bitcoin Network or “Bitcoin” (in capitalized form) means the online, end-user-to-end-user network hosting a public transaction ledger, known as a blockchain, and the source code comprising the basis for the cryptographic and algorithmic protocols governing the Bitcoin Network.
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Bitcoin Network means the online blockchain distributed ledger commonly known as the “Bitcoin Network” upon which Bitcoin holdings and transactions are primarily recorded, initiated with the mining of the “genesis block” on January 3, 2009, as the same may be upgraded or modified from time to time, as determined by the Depositary or the Custodian in its sole discretion; provided however, that, the “Bitcoin Network” shall not include any other blockchain, network or other system that has, before the date hereof, forked or split from the such blockchain (e.g., the Bitcoin Cash blockchain) or any blockchain, network or other system that hereafter forks or splits from such blockchain, unless the Depositary or the Custodian determines, in its sole discretion, that such blockchain, network or other system is the successor to the Bitcoin Network. Further, the “Bitcoin Network” shall not include any “layer 2” protocol of the Bitcoin Network (e.g., the “Lightning Network”) or any other blockchain, network or system (other than the Bitcoin Network) on which transactions or holdings denominated in Bitcoin or tokenized Bitcoin may be made or held.
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Bitcoin Network means the peer to peer cryptographic network commonly accepted as “Bitcoin” and for which bitcoin is the native unit of account.
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