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
- Ethereum nears its own all-time high as ETH price retakes $4KCointelegraph.com News - 2 hours agoThe 30-day correlation between Ether and Bitcoin remains at 0.81 above zero. Ethereum's native token Ether (ETH) is likely to hit its own record high…
- Crypto market cap hits new all-time high as BTC, ETH soarCointelegraph.com News - 2 hours agoBullish momentum has returned to the cryptocurrency market, with Bitcoin leading the charge towards new all-time highs. The total market capitalization of all cryptocurrencies rose…
- VanEck Bitcoin Strategy ETF will likely launch next week as crypto prices reach ATHsCointelegraph.com News - 3 hours agoThe asset manager could be the first to follow ProShares, which listed its Bitcoin Strategy ETF on the New York Stock Exchange on Monday. The…
- Famed Brit photographer Platon’s NFTs have stars in their eyesCointelegraph.com News - 3 hours agoPlaton, the British photographer famous for his close-up portraits of world leaders, is using NFT photos of the human iris to show how humans can…
- Mono X launches mainnet on Ethereum and PolygonCointelegraph.com News - 4 hours agoThe platform will offer a suite of four assets on Ethereum, and a further five on Polygon. Automated market maker (AMM) MonoX has announced the…