Bitcoin BTC

Created by Support WaanX, Modified on Thu, 28 Mar at 12:14 PM by Support WaanX

Bitcoin

Bitcoin (BTC) is a peer-to-peer cryptocurrency that aims to function as a means of exchange that is independent of any central authority. BTC can be transferred electronically in a secure, verifiable, and immutable way. Launched in 2009, BTC is the first virtual currency to solve the double-spending issue by timestamping transactions before broadcasting them to all the nodes in the Bitcoin network. The Bitcoin Protocol offered a solution to the Byzantine Generals' Problem with a blockchain network structure, a notion first created by Stuart Haber and W. Scott Stornetta in 1991.

Bitcoin’s whitepaper was published pseudonymously in 2008 by an individual, or a group, with the pseudonym “Satoshi Nakamoto”, whose underlying identity has still not been verified.

The Bitcoin protocol uses an SHA-256d-based Proof-of-Work (PoW) algorithm to reach network consensus. Its network has a target block time of 10 minutes and a maximum supply of 21 million tokens, with a decaying token emission rate. To prevent fluctuation of the block time, the network's block difficulty is re-adjusted through an algorithm based on the past 2016 block times. With a block size limit capped at 1 megabyte, the Bitcoin Protocol has supported both the Lightning Network, a second-layer infrastructure for payment channels, and Segregated Witness, a soft fork to increase the number of transactions on a block, as solutions to network scalability.


Website: https://bitcoin.org/en/ 

Explorers: https://mempool.space/ 

Community: https://twitter.com/bitcoin & https://bitcointalk.org/ 

Search on: https://twitter.com/search?q=$BTC 

Source Code: https://github.com/bitcoin


Was this article helpful?

That’s Great!

Thank you for your feedback

Sorry! We couldn't be helpful

Thank you for your feedback

Let us know how can we improve this article!

Select at least one of the reasons
CAPTCHA verification is required.

Feedback sent

We appreciate your effort and will try to fix the article