Bitcoin is a cryptocurrency based on an electronic cash system that allows transactions between pairs, without the need for intermediaries. Its technical project originates in 2008, but it is not until January 2009 that this cryptocurrency is launched on the market.
Its author, known as Satoshi Nakamoto created this cryptocurrency in order to simplify payment processes, allowing transactions beyond traditional financial systems.
Today, Bitcoin is recognized for being the first cryptocurrency launched on the market, it came to revolutionize online payment systems and remains the best-positioned cryptocurrency in the world.
What is the origin of Bitcoin?
The true identity of the organization or people behind the creation of bitcoin is protected by the pseudonym Satoshi Nakamoto, as it was popularly known.
For a little more than a decade, many details have been released about what was the beginning of this project that is currently known as bitcoin.
Before being published as open source in 2009, there were already many advances to establish itself as an online digital currency to carry out peer-to-peer transactions.
His proposal is based on a decentralized transaction system or “block system” protected with cryptographic security algorithms better known as a blockchain system.
In this way, bitcoin was officially implemented as the first cryptocurrency in the world. Throughout this decade the system has evolved and perfected its characteristics.
Many people have participated in its improvements, currently there are some well-known names that appear among the more than seven hundred collaborators to materialize what bitcoin today represents for the world economy.
What Bitcoin represents
Bitcoin is the first cryptocurrency to be presented to the market, it is synonymous with a pioneering project that has materialized and has served as a benchmark for the creation of other cryptocurrencies.
The use of bitcoin has been very well received from the beginning and over the years it has stimulated a new industry. It has allowed to develop a large community worldwide that exchanges, pays, invests and uses bitcoin in a reliable way.
This cryptocurrency is already part of the daily life of many people who, in addition to understanding the project very well, have decided to be part of this new technology.
Many similar projects have also decided to go into competition, creating a new cryptocurrency market valued in the billions and inspired by bitcoin.
Thanks to this cryptocurrency, more and more people can carry out transactions, buy, sell, goods and services from anywhere in the world. Without the intervention of intermediaries such as traditional banks or financial services agents. A transaction with bitcoin is based on direct, instantaneous and reliable operations
Bitcoin continues on the cusp of the market after more than a decade, it is the most important and best capitalized cryptocurrency. Every day there are more platforms that offer instruments and services to make payments, exchanges, games based on bitcoin technology.
Bitcoin mining and availability
The availability of bitcoins in the market is conditioned to the limits in the design of its software, which establishes that the maximum supply of twenty-one million coins.
These new coins can only be produced through the mining process and is determined by the number of transactions that will take place through the blockchain network. The miners are responsible for grouping transactions into blocks while they are secured with cryptographic algorithms.
This system allows knowing how much bitcoin is in circulation, although the extraction process of this cryptocurrency is complex, miners receive compensation for each block that they manage to add successfully to the block chain.
Since the time of launch, the value of the reward has varied several times, currently this reward is 6.25 bitcoins for each new block successfully mined.
Depending on the price of bitcoin and the prevailing rate, mining blocks can be a very profitable activity for miners.
The current value of Bitcoin
Due to its characteristics as a global asset, the price of Bitcoin is constantly changing. Its value is very volatile, it can change daily and at different times of the day, this dynamic allows its price to present significant fluctuations and increase by thousands of percent, depending on its use, the country, among others.
The value of bitcoin can change minute by minute, depending on what