Satoshi Nakamoto, Bitcoin’s inventor, designed it for use as a medium for daily transactions and a way to circumvent the traditional banking infrastructure after the 2008 financial collapse.1 Though the cryptocurrency has yet to gain mainstream traction as a currency, it has begun to pick up steam through a differentRead More →
The average time taken to mine a new bitcoin is 10 minutes, but it also depends on the kind of mining power that one possesses. Given this challenge, competition among bitcoin miners is also intense. Will Bitcoin mining ever end? A mere decade from now, nearly 97 percent of BitcoinsRead More →
You Don’t Need Anybody’s Permission Anyone can become a bitcoin node operator or miner without needing permission from anybody else. This completely changes the way commerce can be conducted globally because it eliminates the need to trust or cede control of funds to 3rd party intermediaries. Why should nodes storeRead More →
The most important thing about Bitcoin Dominance is that it can help you understand if altcoins are in a downtrend or uptrend against BTC. When BTC Dominance increases, alts, on the whole, lose value against BTC. When BTC Dominance decreases, alts on the whole, gain value against BTC. Can BitcoinRead More →
Most cryptocurrencies use blockchain technology to record transactions. For example, the bitcoin network and Ethereum network are both based on blockchain. What blockchain does Bitcoin run on? The bitcoin blockchain is a public ledger that records bitcoin transactions. It is implemented as a chain of blocks, each block containing aRead More →