Bitcoin(BTC) is the premier decentralized digital currency, and its creation is credited to pseudonymous programmers working under the name - Satoshi Nakamoto. Its decentralization is credited to a revolutionary technology, Blockchain.
Blockchain is essentially an open ledger where blocks store transactional data. These cryptographically linked blocks contain hashes of their own and the preceding block. Peer-to-peer networks and consensus protocols have made the existence of digital ledgers, like blockchains, possible.
Due to the absence of a central authority, transactional credibility is ensured by bitcoin mining. These miners are compensated, for providing their service and computing power, in Bitcoins. At the time of writing, miners are rewarded with 12.5 BTC per block, and its next halving that will reduce rewards to 6.25 BTC per block is expected to be in 2020.
cryptocurrency BTC can be obtained, without mining, by exchanging fiat currency for these coins. The exchange value depends on the demand and availability of the currency, and the competition from other currencies.
Only 21 Million bitcoins are available, and the current valuation of its market cap is over $160 Billion.
Latest updates related to the digital coin and its trends are covered in Bitcoin News section of our website.