What is Bitcoin (BTC)?
Bitcoin is the first decentralized cryptocoin ever built on top of a blockchain. It was created by an anonymous person or group of people with the nickname Satoshi Nakamoto in 2009 as an open source project.
To understand the Bitcoin blockchain we can imagine a book, where each page number contains a signature that can validate the content of that page and its previous one. This signature is computed by an algorithm known as SHA-256 and cannot be reversed. In other words we can calculate the A-256 signature from some content, but we can’t get content if we know its SHA-256 signature. Back to the example with the book: if we tear out a page from the book, we can easily understand that a page is missing. The same is with adding an inexistent page. All the pages are copied between members of the chain, and this is why the Bitcoin Blockchain is considered a distributed network.
Bitcoin is an open source project maintained by a developer team with over 580 active contributors. The code of the chain is available on Github. The main purpose of Bitcoin was decentralized but trusted, low fee money transactions between people and businesses around the world. Nowadays over 100.000 vendors accept Bitcoin for payments. And there are between 2.9 and 5.8 million unique users who actively use Bitcoin cryptocurrency wallets. The price of Bitcoin can be very volatile due to speculation and has changed in the past more than +/-20% during a single.
- Historical Data
- Bitcoin Price Above $11.5K as Key BTC Price Metric Suggests $12K RetestCointelegraph.com News - 12 hours agoBitcoin recovered back above $11.5K, leading traders to suggest a renewed attack on $12K could occur soon. Today Bitcoin (BTC) price rebounded from its recent…
- Crypto Exchange Bitfinex Is Down Right NowCointelegraph.com News - 12 hours agoInternational crypto exchange Bitfinex unexpectedly went offline for all users this afternoon, citing a ‘platform performance issue.’ Bitfinex has been offline for at least two…
- Yam Suffers Technical Outage Following Scam AccusationsCointelegraph.com News - 13 hours agoYam Finance uncovered a bug the day after ShapeShift CEO Erik Voorhees called the project a scam. Yam finance (YAM), the latest fad in the…
- Malaysian Crypto Miners Were Caught Stealing Electricity From the StateCointelegraph.com News - 14 hours agoThey thought they had it made, but the Malaysian authorities were one step ahead. Malaysian police arrested four cryptocurrency mining operators after discovering that they…
- Peter Brandt’s Tether Warning Is Ominous, But UnclearCointelegraph.com News - 14 hours agoPeter Brandt didn’t mince his words when describing the controversial stablecoin. “Tether is an accident waiting to happen,” Brandt tweeted on Aug. 10, in response…