Trending 
Trending
Copied ₹6139721
₹6139721
Market Cap
₹110.18 T 0.1451%
Circulating Supply
19728700
Max Supply
21000000
Volume
₹1.52 T
All Time High :
₹6110932
All Time Low :
₹3993.42
Price change in 24H :
₹9631.98
24H High :
₹5667256
24H Low :
₹5559999
Net Inflow ($)
Net Inflow ($)
Net Inflow ($)
Bitcoin crypto, the world's first decentralised digital currency, was introduced in 2008 as a peer-to-peer electronic cash system. It operates on the blockchain technology, enabling secure and transparent transactions without intermediaries like banks or governments. Originating by Satoshi Nakamoto, the crypto aims to eliminate trust in electronic transactions and provide a secure, efficient, and censorship-resistant means of transferring value. Its decentralised nature allows for transparency, security, and immutability, making it resilient to censorship and control by any single authority.
Satoshi Nakamoto, a renowned computer programmer, is believed to have created Bitcoin crypto in 2008 through a whitepaper titled "Bitcoin blockchain: A Peer-to-Peer Electronic Cash System." The creation aimed to address the limitations of traditional financial systems and eliminate intermediaries like banks. Despite the mystery surrounding Nakamoto's identity, his legacy continues to shape the cryptocurrency landscape, inspiring the development of numerous cryptocurrencies, decentralised applications, and blockchain-based solutions. The true identity of Nakamoto remains a mystery, but his vision continues to shape the cryptocurrency landscape.
Satoshi Nakamoto: No Twitter Handle
Bitcoin crypto, a decentralised system, operates on a decentralised network with no central authority or intermediary. It relies on a vast network of nodes for transaction validation and verification. The blockchain consensus mechanism, Proof-of-Work (PoW), ensures the security and immutability of the blockchain. Cryptographic techniques, such as SHA-256, protect user identities and ensure transaction integrity.
The Lightning Network, a layer-two scaling solution, operates on top of the Bitcoin blockchain, allowing faster and cheaper off-chain transactions. This network of payment channels between users allows transactions to be conducted instantly and with minimal fees. However, Bitcoin's energy consumption is a criticism due to the PoW consensus mechanism. Alternative consensus mechanisms, such as Proof-of-Stake (PoS), are being explored to reduce energy consumption associated with Bitcoin graph mining while maintaining network security.
In conclusion, Bitcoin's blockchain technology plays a crucial role in its decentralised nature and transaction security. Understanding these technological aspects helps appreciate the innovation and potential of Bitcoin live in reshaping the financial landscape.
Bitcoin crypto is a digital currency that facilitates peer-to-peer transactions without intermediaries, allowing for faster settlement times and reduced transaction fees.
It has gained recognition as a store of value, a potential hedge against inflation, and a digital asset for long-term wealth preservation.
It is also used for cross-border remittances, micropayments, and addressing unbanked and underbanked populations.
Its decentralised nature makes it suitable for cross-border transactions and international trade, eliminating intermediaries and streamlining the payment process.
Additionally, Bitcoin has applications in the philanthropic sector, as it allows non-profit organisations to accept live donations, providing transparency and traceability.
Apart from P2P, Bitcoin crypto now allows developers to create or mint NFTs and Tokens on the Bitcoin blockchain by utilising a variety of token standards like the BRC-20 token standard, the runes protocol, and so on.
New Era of Bitcoin ETFs
Bitcoin ETFs, which invest in assets related to Bitcoin cost, are gaining interest due to increased institutional interest in the cryptocurrency industry. Fidelity Investments is in the final stages of preparing its application for a Bitcoin cost ETF. The first leveraged crypto ETF in the US, Volatility Shares' 2x Bitcoin Strategy ETF (BITX), began trading in June 2023, with a trading volume of $4.2 million.
Additionally, other major financial players like BlackRock, Invesco, and WisdomTree have also submitted their applications for Bitcoin live exchange-traded funds.
Binance Integrates Lightning Network
Binance has integrated the Lightning Network scaling solution, allowing users to deposit and withdraw Bitcoin on the blockchain in July 2023. This layer 2 scaling solution enables faster, more cost-effective transactions by creating off-chain transaction channels incorporated into the main chain.
Users will now have the option to choose "BTC-Lightning" when depositing Bitcoin live, in addition to the usual choices like Bitcoin cost, BEP20, and SegWit.
BRC-20 Token Standard
The Bitcoin Ordinals protocol in January 2023 allowed NFTs to be inscribed on satoshis, sparking interest in creating fungible tokens on the Bitcoin graph network. In March 2023, BRC-20 token standards were established, leading to the launch of "ordi" and subsequent BRC-20 tokens. The surge in demand led to increased transaction fees and congestion on the Bitcoin network's main chain.
Bitcoin live Network upgrades show potential long-term success, with upcoming halving a significant milestone that could shape cryptocurrency's trajectory.
Runes Protocol
Runes protocol utilises Bitcoin's UTXO model for efficient balance storage, aiming to enhance transparency and security by transferring trust from indexers to the Bitcoin blockchain.
The Runes protocol leverages Bitcoin's strengths like decentralisation, security, and UTXO model, potentially expanding its
capabilities beyond its peer-to-peer payment system roots.
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