Bitcoin, introduced in 2009 by the pseudonymous Satoshi Nakamoto, is the first decentralized cryptocurrency. It operates on a peer-to-peer network, allowing users to send and receive payments without intermediaries.
Bitcoin Journey
2009
Bitcoin network launched
2010
First real-world transaction (10,000 BTC for two pizzas)
2017
Reached $20,000 for the first time
2021
Recognized as legal tender in El Salvador
Technology
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Consensus Mechanism
Proof-of-Work (PoW) -
Hashing Algorithm
SHA-256 -
Block Time
~10 minutes -
Maximum Supply
21 million BTC
Utility
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Digital store of value
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Medium of exchange
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Hedge against inflation
Pros
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First-mover advantage
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High liquidity
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Strong security and decentralization
Cons
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Energy-intensive mining process
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Scalability issues
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Volatility