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14yMbpfNypSrYpc4UZAuv7tFLqk2ezEnqE3 satoshi2023-03-26 06:46:48
17jJFkaaon2uAbW6Exv8fj9e2k1pJyPj1W2 satoshi2023-03-26 06:46:39
1MXaG5bJ3ty82T4M4Ryfi1rVJULM1CBkSK2 satoshi2023-03-26 06:46:19
0xc5e8E885F2792301b867436e36161499804530752 satoshi2023-03-26 06:46:07
18SAbuPcGW2CHkyiJLcouUTVAfTgDFuvm2 satoshi2023-03-26 06:45:58
1EDnhuBuQ4mRvYqCirGQrdE4zTZ5DH6Wr12 satoshi2023-03-26 06:45:28
bc1qtptlvngh3he4qhme76vxn5h8sw6x49z8cw8xuz2 satoshi2023-03-26 06:45:07
3JniWiNLhrb3rfLftDNySizwAN1TgU7buR2 satoshi2023-03-26 06:43:45
DSXL82cnTTP6ULpHNeToTX18DVHKs8n1tk2 satoshi2023-03-26 06:43:37
MNLaWqQc8ba2wowHvVumUbJgSzbYvtyoW62 satoshi2023-03-26 06:42:38

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.

Credits: CoinGecko, YouTube