What it means
The first cryptocurrency, launched in 2009, with a fixed supply of 21 million coins and its own blockchain.
Its price moves a lot, so it isn't used like a stable currency. Defied doesn't hold or sell bitcoin.
How it works
Wrapped versions of bitcoin exist on other networks, including Base.
Related terms
| Term | What it means |
|---|---|
| Blockchain | A shared record of who owns what, kept by many computers at once, that no single company can change on its own. |
| Volatility | How much and how fast a price goes up and down. |
| Wrapped token | A token on one blockchain that represents an asset from another, such as bitcoin on Base. |
This glossary explains terms in general. It isn't investment, tax or legal advice.