Bitcoin Protocol refers to the set of rules and standards that govern how Bitcoin operates. It includes the underlying technology that enables transactions, mining, and network security. This protocol defines how data is structured and transmitted across the network.

A key component of the Bitcoin Protocol is the blockchain, a distributed ledger that records all transactions in a secure and transparent manner. Each block in the chain contains a list of transactions and is linked to the previous block, forming a chronological sequence. The protocol also specifies the consensus mechanism known as Proof of Work, which requires miners to solve complex mathematical problems to validate transactions and add new blocks to the blockchain.

This process ensures that the network remains decentralized and resistant to fraud. Overall, the Bitcoin Protocol is essential for ensuring the integrity, security, and functionality of the Bitcoin network, allowing users to send and receive funds without the need for intermediaries.