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Bitcoin Technology

Bitcoin Technology

DescriptionBitcoin logo

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

About The Author

Gwen Deacon

I am an experienced share trader that is now focussing my time on trading cryptocurrency. I focus on bringing my share trading knowledge to the world of cryptocurrency.

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