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1GmptoKyNYiWg6Z5kuUSsnxboNbJjNEqc63 satoshi2023-01-28 04:32:27
19h5cpUVSLJaHoQNo4NZY45zzz5iCu7uma2 satoshi2023-01-28 04:32:01
15bNFjknbYYBD7kNG8tQnhBCS63VXWAweq3 satoshi2023-01-28 04:31:38
14RsEU9aHzuy7Gxx1CszsxqZNBGAgGoz823 satoshi2023-01-28 04:31:17
bc1q92euhq54k6zr3qdm5z6s43a0wcp9afsz7xjymp3 satoshi2023-01-28 04:30:25
114qNpD6WWMfTQ9LzLxoUX2ja7V3RTUfHo3 satoshi2023-01-28 04:30:07
1NUeP9pHkrxui8bJGv8rk2Qm3UxdQ2jTQU2 satoshi2023-01-28 04:29:39
1Hcffk2We1MirdLQsHhkp9oiE68YaxPUbt2 satoshi2023-01-28 04:29:35
3KwASzYXaepsbh1xnUdCuAkUVH489LuZ252 satoshi2023-01-28 04:29:34
17nizSQvvZQNYjrFjn2F5cvpbEYMeTSHJB2 satoshi2023-01-28 04:29:32

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.