Bitcoin (BTC) is a consensus network that enables a new payment system and full digital currency. This user-driven network is a peer-to-peer payment network that does not need to operate centrally. On October 31, 2008, a group of individuals or individuals operating under the pseudonym "Nakamoto Satoshi" issued a bitcoin white paper describing it as "a pure peer-to-peer version of electronic cash that can be sent directly from one party to another without having to go through a financial institution."