What is the Bitcoin Protocol?

"The nature of Bitcoin is such that once version 0.1 was released, the core design was set in stone for the rest of its lifetime.” – Satoshi Nakamoto - The Bitcoin White Paper

The Bitcoin Protocol uses digital signatures but is not encrypted.

In order for the Bitcoin protocol to reach its maximum potential:

1. The protocol needs to be “Set in Stone”
2. The network needs to “Massively Scale”
3. The node software that powers the protocol and network needs to be “Secure” 
4. Transactions need to be transferred “Safely and Instantly” from peer to peer

By using Bitcoin’s original design described in the white paper and locking down the original Bitcoin Protocol, Bitcoin enables application developers and major enterprises to build on top of a stable and regulatory-friendly blockchain much the same way as businesses built for years on top of a stable internet protocol.

“The existing Visa credit card network processes about 15 million internet purchases per day worldwide. Bitcoin can already scale much larger than that with existing hardware for a fraction of the cost. It never really hits a scale ceiling.” – Satoshi Nakamoto (April 2009)