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13JRYuS7XRkfXKMhdzKAdMsB3vPrjwG63v2 satoshi2023-11-29 06:11:06
1MjzJCipBzcCmcWiRep23NQ95E4qwDvCY2 satoshi2023-11-29 06:09:59
1Jm9Q6Yfri2kPyZnZb4RTb4mz1gTSwVpTQ2 satoshi2023-11-29 06:09:53
16BHEiidSPcCr4QWvvZHpkDMm3HS5iKbSX2 satoshi2023-11-29 06:09:15
1A6WsHZfb4jLbf5TRvEoE1WF11TCKS47R82 satoshi2023-11-29 06:08:31
1FWcS8eKoimfowHGfrcNFA7youu2tdUdfX2 satoshi2023-11-29 06:07:20
13y4K96DQCxq55yWWT7yVeaRnYa6iQUMKP2 satoshi2023-11-29 06:06:07
1PrbY7YdoH3dG1PKvvYMp8fMYknMpiLxgb2 satoshi2023-11-29 06:05:22
3JhVsZxH56gg83QmRn71gJ448GPjUn8Wmg2 satoshi2023-11-29 06:04:51
1NKTGoXQWurDV1cGtKWCuc8qNUsb6MhfCN2 satoshi2023-11-29 06:04:25

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.