Bitcoin network had a downtime only two times in its history. The current uptime by https://bitcoinuptime.org/ is 99,988248237%. 10 years in a row (it will be fully 10 years in August) this network has been up, fully up, fully decentralized, working because people want it to work. Decentralized network working for 100% 10 years straight. Isn't that amazing? It is one of the most reliable network in the world that has ever been made. Basically you could already say that the uptime right now is 99.99% Bitcoin also has a higher uptime then Amazon, Google, Facebook. So far, Bitcoin network was down for around 14 hours and that is it. Everything else is uptime. It was down in 2010 and 2013. - In 2010 it went down due to something that is called "The Value Overflow Incident). What basically happened is that in August 15, block 74638 contained a bug that created 184,467,440,737.09551616 bitcoins for three addresses.
Satoshi Nakamoto himself posted a code update for the bug, 5 hours after the bug was discovered. - In 2010 we had a situation when someone temporarily βcreatedβ new bitcoins (with the limit of 21 million that was impossible).In 2013, there was a network split where Bitcoinβs network temporarily split into two separate networks. It caused BTC price to fall 23% There were problems with the 0.7 to 0.8 upgrade where there were two forks of bitcoin for hours until it was resolved. It lasted for 24 blocks or 6 hours, resolving itself when one version of the chain pulled ahead of the other. More details here Bitcoin uptime history through the years: So far, Bitcoin network was down for around 14 hours and that is it. Everything else is uptime. It is one of the most reliable networks. If you were wondering, there were other attacks. Here is the list https://en.bitcoin.it/wiki/Common_Vulnerabilities_and_Exposures [link] [comments] |
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