Principles of Bitcoin

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Principles of Bitcoin

All changes and upgrades to the protocol should strive to maintain and reinforce these Principles of Bitcoin

  • 21 million coins.
  • No censorship: Nobody should be able to prevent valid txs from being confirmed.
  • Open-Source: Bitcoin source code should always be open for anyone to read, modify, copy, share.
  • Permissionless: No arbitrary gatekeepers should ever prevent anybody from being part of the network (user, node, miner, etc).
  • Pseudonymous: No ID should be required to own, use Bitcoin.
  • Fungible: All coins are equal and should be equally spendable.
  • Irreversible Transactions: Confirmed blocks should be set in stone. Blockchain History should be immutable.
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