The Daily-Coin Cryptopedia
The fast-paced Crypto Sphere is full of information, which can leave newcomers feeling lost. Below, we break down the most important facts and numbers about Bitcoin and Cryptocurrencies to help you understand where they came from, and where they are heading.
1. Bitcoin made its first appearance in the Bitcoin Whitepaper published on 31st October 2008.
2. Bitcoin is a peer-to-peer digital currency that can be used to store, send and receive funds without permission from any authority or institution.
3. The Bitcoin network can be accessed by anyone, anywhere, as long as they have an internet connection.
4. Bitcoin functions through Blockchain technology, which is “an open, distributed ledger that can record transactions between two parties efficiently and in a verifiable and permanent way" (Wikipedia).
5. The first Bitcoin transaction took place on 12th January 2009.
6. The first purchase with Bitcoin was made on 22nd May, 2010, when a man paid for 2 pizzas with 10,000 BTC.
7. The creator/s of Bitcoin goes by the pseudonym Satoshi Nakamoto, whose true identity remains anonymous to this day.
8. Hal Finney was an early Bitcoin code contributor.
9. The smallest denomination of Bitcoin is called a Satoshi (0.00000001 BTC)
10. As the Bitcoin Network grew, transaction times increased due to more ‘traffic’ on the blockchain.
11. The size of the Bitcoin Blockchain in 2020 is 29GB
12. The Bitcoin Network can process up to seven transactions per second on the blockchain in 2020.
13. Bitcoin is often referred to as ‘Digital Gold’ as it is often seen as an alternative investment asset.
14. The Bitcoin Lightning Network re-introduced fast, low-cost payments with Bitcoin.
15. The total supply of Bitcoin is 21 million coins.
16. Bitcoins are created through a process of ‘mining’.
17. The last Bitcoin will be mined in 2140.
18. Bitcoin miners receive 25 BTC per block as of 2020.
19. There are approximately 10,000 scattered nodes of Bitcoin around the world.
20. Bitcoin reached its highest price on 18th December 2017, at $19,498.63.
21. There are approximately 70 different ‘forks’ of Bitcoin.
22. The most popular forks of Bitcoin are Bitcoin Cash and Bitcoin SV.
23. In 2020, there are over 460 million Bitcoin addresses.
24. You can find more than 5000 Bitcoin ATMs across the globe.
25. Every 3 seconds, there is at least one mention of Bitcoin on Social Media.
26. There are over 5,201 types of Crypto Assets on the market in 2020.
27. The total market capitalisation of Cryptocurrencies is more than $155 billion in 2020.
28. Bitcoin accounts for over 63.8% of the Crypto Market value.
29. The Tether stablecoin sometimes sees more transactions than Bitcoin in a day.
30. More than 300 digital asset exchanges exist across the globe.