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1MhZ5LwwQRsj4goiC5ZmowWUGTY6aPC22K2 satoshi2022-12-01 17:51:19
37Hg1RKpSrq972rw6RDp9CLmvKdmULT2Ru2 satoshi2022-12-01 17:51:07
1MutUYZ6gXLYXvacbo5wXQ1aGqiJNfDmok3 satoshi2022-12-01 17:51:05
1C4guA3QMLsReFMrEFFBF2syoNQfmo5LBc3 satoshi2022-12-01 17:50:53
bc1q8mexkan0f90mxj2ww4dg8angh498mlxqlux0mk2 satoshi2022-12-01 17:50:32
1L4pGpfRxMb7TGckJEY7tqD6PEFvNFC8Hs2 satoshi2022-12-01 17:50:11
1JSkJy9aDnWxJWKuAr8AqqNmRmwnLU7nP92 satoshi2022-12-01 17:49:49
1PZagXz8VMSenMWvo7hbRT9i6sfHQoYhUg3 satoshi2022-12-01 17:49:32
1Lwt9WPGAKm79ZkRdM5zNWGanoWB3W3hDY3 satoshi2022-12-01 17:48:43
3BCfNrptKHzPq8wekqvb1jTAeyYV2vH8qF3 satoshi2022-12-01 17:47:51

What is Bitcoin?


Bitcoin is the first successful internet money based on peer-to-peer technology; whereby no central bank or authority is involved in the transaction and production of the Bitcoin currency. It was created by an anonymous individual/group under the name, Satoshi Nakamoto. The source code is available publicly as an open source project, anybody can look at it and be part of the developmental process. Bitcoin is changing the way we see money as we speak. The idea was to produce a means of exchange, independent of any central authority, that could be transferred electronically in a secure, verifiable and immutable way. It is a decentralized peer-to-peer internet currency making mobile payment easy, very low transaction fees, protects your identity, and it works anywhere all the time with no central authority and banks. Bitcoin is designed to have only 21 million BTC ever created, thus making it a deflationary currency. Bitcoin uses the SHA-256 hashing algorithm with an average transaction confirmation time of 10 minutes. Miners today are mining Bitcoin using ASIC chip dedicated to only mining Bitcoin, and the hash rate has shot up to peta hashes. Being the first successful online cryptography currency, Bitcoin has inspired other alternative currencies such as Litecoin, Peercoin, Primecoin, and so on. The cryptocurrency then took off with the innovation of the turing-complete smart contract by Ethereum which led to the development of other amazing projects such as EOS, Tron, and even crypto-collectibles such as CryptoKitties.