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Understanding the Currency Sector in CoinDesk Indices DACS

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1. Bitcoin (BTC) is the world’s first cryptocurrency, and the largest by market capitalization. Since launching in 2009, Bitcoin has revolutionized payments with its innovation in blockchain technology, creating a global, borderless, secure, censorship-resistant, pseudonymous, permissionless and trustless medium of exchange. Bitcoin’s proof-of-work consensus mechanism makes the Bitcoin network the most secure in the world. When proper security measures are taken, a bitcoin wallet is effectively un-hackable. These features have contributed to an explosion in usage and popularity, and bitcoin has seen a massive influx of institutional and retail adoption, positioning itself as a brand-new asset class and a legitimate store of value.



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