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.
Cryptocoins News / The Cointelegraph β - 2 years ago
To understand where the value of Bitcoin is headed, we need to study the adoption rate of cryptocurrencies in the world. This is Part Three of a multipart series that...
More / Bitcoin Reddit - 2 years ago
Unbelievable to watch, this guy has lost it... Seems like the bitconnect event with wassup wassup, and fuck elon chants. The entire ecosystem and community should be ashamed of this lunatic. Cringe moment that sets bitcoin back to 2011. To quote the...
Cryptocoins News / The Cointelegraph β - 2 years ago
One Twitter user thought Bitcoin had taken off without them in 2010, while another figured BTC wouldn't go anywhere. Bitcoin came to life in 2009. More than a decade...
Cryptocoins News / The Cointelegraph β - 2 years ago
A push to $40,000-$42,000 won't protect Bitcoin from risks of undergoing a major price decline later, suggests a century-old price prediction model created by technical analyst titan Rich...
Cryptocoins News / The Cointelegraph β - 2 years ago
Saturdayβs programming will also feature Bobby Lee, the former CEO of Chinaβs first cryptocurrency exchange. Bitcoin 2021 Miami continues following Friday's massive op...
More / Bitcoin Reddit - 2 years ago
The post is from 2013 but the major principles are intact, if you find mistakes let me know below. "The aim in this post is to explain the major ideas behind the Bitcoin protocol in a clear, easily comprehensible way. Weβll start from first prin...
More / Bitcoin Reddit - 2 years ago
why this paper? consensus with byzantine participants like SUNDR: signed log of operations, and forks if agreement on log content, then agreement on state unlike SUNDR agrees on a fork in decentralized manner more distributed than most systems -- dec...
More / Bitcoin Reddit - 2 years ago
If you find some mistakes or things that could be outdated or maybe even think of extra Q&As yourself, just post them below and I'll include them. Q: I don't understand why the blockchain is so important. Isn't the requirement for the...