Bitcoin (BTC) is the first electronic currency, which uses the principles of cryptography and blockchain technology, to avoid being controlled, copied or regulated, since it’s decentralized, and not governed by rules imposed by government entities.
The creator of bitcoin, Satoshi Nakamoto; pseudonym of the author or group of authors, in 2008 he published in an online cryptography forum the cryptocurrency whitepaper explaining the functioning of the system and in 2009 the first block was mined, called the genesis block.
This cryptocurrency uses the SHA-256 mined algorithm and is designed to reach the 21 million coins in circulation, which are expected to be distributed in full in the year 2140. There are currently a little more than 17 million bitcoins circulating, since Every 12 minutes, 12.5 BTC are produced through mining processes.
The growth scale of Bitcoin varies according to the market and can change in a matter of seconds. As in 2017, it went from being worth 1000 USD in January to 20,000 USD in December 2017. The current price ranges between USD 6000.
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