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Chainlink exchange rate 2011 Many in the global tech community quickly jumped on board, recognizing the great potential for the future of digital transfers and payments. The term “decentralized” as applied to digital currency was first used to describe Bitcoin, with the need for an intermediary between parties is eliminated. The democratic nature of the blockchain system itself is what keeps the process in check and secure. Bitcoin is more than just a theoretical use of a ground-breaking technology — it is a currency with genuine, transferable value which can be exchanged for other currencies, as well as used to purchase products and services in legal markets. Bitcoin can also arguably be dubbed the investment craze of the decade. From just a few cents in 2009, its value skyrocketed to close to $20,000 in 2017. 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