But the competition has been very low in earlier times than it is now. Earlier the reward was 50 bitcoins per block, however, by 2020 the block rewards have been cut down to 6.25 bitcoins.īitcoin doesn't have a history of being already mined, ie no coins have been mined before it went public. The miners are rewarded for spending their computational resources and for adding blocks to the blockchain. New coins are generated through the process known as mining: whilst transactions are passed over via the network, they get picked up by miners and packed into blocks, which are then protected by complex cryptographic calculations. Cryptocurrency is used as a secure medium for ensuring transaction security.īitcoin can be thought of as a peer-to-peer online currency, wherein all the transactions are done directly through equal, independent network participants, without the need for any intermediary to permit them to facilitate them.īitcoin holds the honour of being the first-ever cryptocurrency to come into actual use into the market.Īs of date Bitcoin’s total supply has been controlled and never above 21000000 coins. Cryptocurrency: Digital currency (virtual currency ) transactions done online across the world, without having any centralized regulating authority ( without having the central bank or any bank involved for the transaction) directly from the sender to the buyer. About Bitcoinīitcoin was created by a person with an incognito name "Satoshi Nakamoto". Bitcoin are under circulation, with total supply of 19.14M and the Maximum supply of 21M. Bitcoin's market cap currently sits at $381,857,819,683.23 USD, holding up for a market cap rank at #1. Bitcoin price today is $19,951.10 USD, which is Down by -0.18% over the last 24 hours.
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