Bitcoin Technology
Description
Bitcoin is the oldest cryptocurrency in circulation with the longest blockchain, it is the most popular and has the biggest market capitalization. The coin is loosely referred to by the community as the “gold” of the cryptocurrency world.
Date Of Creation: Blockchain started with its first transaction on 3rd January 2009.
Opening price: 1 BTC = 0.000764 USD (1309.03 BTC = 1 USD)
See Current Bitcoin Price HERE
Starting Investors: Unknown
Central control or Governing Body: None
Creator: Satoshi Nakamoto
Features/Point of Difference: First Cryptocurrency to be created and released to the public
Wallet Support: All
Exchange Support: All
Market Info
Market Code: BTC
Target Market: Whole world
Target use: Originally replacement for fiat currency
Industry Partners:
Technical Information
Coins in circulation: 16.5 Million (Sep-17)
Maximum number of coins: 21 Million
Central control: No completely decentralized network
Coin Type: Proof-of-work
Transaction Fees: Voluntary
Block Size: 1 MB
Hashing Algorithm: SHA-256
Block Time: Approx 10 minutes
Transactions Per Block: Approx 2020
Transaction Speed: Approx 3.37 Transactions per second
Block reward: Currently 12.5 bitcoin (halves every 210 000 blocks)
Anonymity: Yes but only through wallet ID’s not being tied to identification
