Proof of Work

Cryptocurrency

Base Ecosystem

Yearn Ecosystem

Ethereum Mainnet

Binance Smart Chain Mainnet

Avalanche C-Chain

Fantom Opera

Polygon Mainnet

Cronos Mainnet Beta

Arbitrum One

Klaytn Mainnet Cypress

Harmony Mainnet Shard 0

Metis Andromeda Mainnet

Huobi ECO Chain Mainnet

Aurora Mainnet

Celo Mainnet

Optimism

Gnosis Chain (formerly xDai)

Theta Mainnet

Moonriver

Emerald Paratime Mainnet

Fusion Mainnet

Telos EVM Mainnet

RSK Mainnet

Moonbeam

IoTeX Network Mainnet

OKExChain Mainnet

Boba Network

Wanchain

KCC Mainnet

Velas EVM Mainnet

Smart Bitcoin Cash

Songbird Canary-Network

CoinEx Smart Chain Mainnet

Fuse Mainnet

Shiden

Elastos Smart Chain

Callisto Mainnet

ThunderCore Mainnet

Meter Mainnet

TomoChain

Energy Web Chain

Syscoin Mainnet

Ubiq

Polis Mainnet

Zyx Mainnet

High Performance Blockchain

GoChain

Palm

Expanse Network

ThaiChain

Metadium Mainnet

Flare Mainnet

Diode Prenet

ThaiChain 2.0 ThaiFi

ELA-DID-Sidechain Mainnet

Dithereum Mainnet

ShibaChain

Genesis L1

GoodData Mainnet

TBWG Chain

Valorbit

Darwinia Crab Network

XinFin Network Mainnet

Ontology Mainnet

EOS Mainnet

Ethereum Classic Mainnet

Ellaism

SoterOne Mainnet

IDChain Mainnet

POA Network Sokol

PrimusChain mainnet

GeneChain

GateChain Mainnet

Nova Network

Garizon Stage0

Garizon Stage1

Garizon Stage2

Garizon Stage3

NEXT Smart Chain

POA Network Core

EtherInc

EtherLite Chain

Fuse Sparknet

Decentralized Web Mainnet

OYchain Mainnet

Factory 127 Mainnet

DAX CHAIN

Lightstreams Mainnet

Seele Mainnet

BMC Mainnet

BitTorrent Chain Mainnet

Arbitrum on xDai

Freight Trust Network

Permission

Setheum

SUR Blockchain Network

Web3Q Mainnet

PulseChain Mainnet

Lisinski

Rupaya

Double-A Chain Mainnet

# What is Bitcoin (BTC)?

Bitcoin is a decentralized digital currency that was first proposed in a 2008 whitepaper by an individual or a group of individuals using the pseudonym Satoshi Nakamoto. The cryptocurrency was officially launched in January 2009, following the publication of its whitepaper.

As a peer-to-peer online currency, Bitcoin allows transactions to occur directly between equal, independent participants without any intermediaries, such as banks or financial institutions. The goal of Bitcoin, as stated by Nakamoto, is to enable "online payments to be sent directly from one party to another without going through a financial institution."

## Who Founded Bitcoin? 
The true identity of Satoshi Nakamoto, the person or group behind the creation of Bitcoin, remains unknown as of 2021. On October 31, 2008, Nakamoto published the Bitcoin whitepaper, which detailed the concept of a decentralized digital currency built on a peer-to-peer network.

On January 3, 2009, Nakamoto mined the first block on the Bitcoin network, known as the genesis block, thereby launching the world's first cryptocurrency. The first known commercial transaction involving Bitcoin took place on May 22, 2010, when programmer Laszlo Hanyecz traded 10,000 Bitcoins for two pizzas, an event now celebrated as "Bitcoin Pizza Day."

>Check the overall market health of the crypto market with the [Coinrotator Market Health](https://coinrotator.app/market-health) Oscillator. It has successfully warned of large price shifts well in advance of the actual moves.

## Bitcoin Circulation and Supply

Bitcoin's total supply is limited to 21 million coins, a cap that is built into its software. New coins are created through a process called "mining," in which miners validate transactions and add them to the blockchain in the form of blocks. As a reward for their efforts, miners receive a predetermined number of new Bitcoins for each block they successfully mine.

When Bitcoin was first launched, the mining reward was 50 Bitcoins per block. This reward is halved approximately every four years, with the current reward standing at 6.25 Bitcoins per block. 

## How is the Bitcoin Network Secured?
The Bitcoin network is secured using the SHA-256 algorithm, a member of the SHA-2 family of cryptographic hashing algorithms. This same algorithmis also employed by Bitcoin's fork, Bitcoin Cash (BCH), as well as several other cryptocurrencies.

## Bitcoin as a Store of Value
One of Bitcoin's primary functions is its use as a decentralized store of value. This means that it can serve as a digital asset that represents ownership rights, similar to physical assets or traditional units of account. However, the notion of Bitcoin as a store of value has been a subject of debate among experts and enthusiasts.

## Bitcoin Technology Upgrades
Bitcoin's technology can be upgraded through two primary methods: hard forks and soft forks. A hard fork entails a radical change to the protocol that renders previously invalid blocks or transactions valid, necessitating all users to upgrade their software. In contrast, a soft fork involves changes to the protocol that only invalidate previously valid blocks or transactions, making it backward-compatible as old nodes will still recognize new blocks as valid.

Examples of notable cryptocurrencies that have undergone hard forks include [Bitcoin's hard fork](https://coinrotator.app/coin/bitcoin-cash) that resulted in Bitcoin Cash and Ethereum's hard fork that led to [Ethereum Classic](https://coinrotator.app/coin/ethereum-classic).

## BRC20 Standard 2023
The BRC20 standard introduces token creation and transfer capabilities to the Bitcoin network(BRC20), utilizing the Ordinals protocol and Taproot upgrade. This enables new applications like DeFi on Bitcoin, expanding its use beyond just a digital currency. For the latest coins added check the [CoinRotator BRC20 coinscreener](https://coinrotator.app/category/BRC-20-Token).

## The Lightning Network
The Lightning Network is an off-chain, layered payment protocol that enables instantaneous, high-volume, and trustless transactions between any two parties. By operating bidirectional payment channels, the Lightning Network allows for rapid reconciliation and private transactions. This innovation scales the transaction capacity of the Bitcoin network without incurring the costs associated with on-chain transactions and interventions.
### Team Background: Origins and Key Contributors
Bitcoin's development has been driven by a diverse and dedicated global community of programmers, researchers, and enthusiasts. While the true identity of Satoshi Nakamoto, Bitcoin's creator, remains unknown, several key figures have emerged as important contributors to the project since its inception. Among them, Gavin Andresen played a significant role after being handed control of the network alert key and code repository by Nakamoto. Additionally, the Bitcoin source code repository on GitHub lists more than 750 contributors, underlining the collective efforts behind the continuous improvement and evolution of the cryptocurrency.

### Current and Upcoming Project Developments: Enhancing Scalability and Usability
As Bitcoin gains traction, its developers continuously innovate to maintain a resilient and scalable network. The Lightning Network, for instance, optimizes transaction speed and volume through off-chain, trustless exchanges. Additionally, soft and hard forks serve as key protocol updates. 



## {{name}} Price Analysis

As of {{month}} {{day}} {{year}} {{name}} has a marketcap of {{marketcap}}. 
This is {{percentagefromath}} from its all time high of {{ath}}. 
In terms of its tokenomics, there's a total supply of {{totalsupply}} with {{percentagecirculatingsupply}} currently outstanding. 
Keep in mind {{name}} has a fully diluted value of {{fdv}} which many investors might interpret as overvalued. 

Of course, don’t trust price predictions alone, always check the Coinrotator token screener to follow the trending market.

Bitcoin

Bitcoin

Price Data

Analysis

Trade

Market Cap

All-Time High

All-Time Low

Fully Diluted Valuation

Circulating Supply

Total Supply

Categories

Similar Coins