Question What Is a Bitcoin Fork? A Bitcoin Fork is like a split in a road, creating two separate routes. It happens when people using Bitcoin can't agree on the rules about how the system should work. It also happens when security risks are discovered in older software versions, which need to be fixed.
Question What Are the Properties of a Good Hash Function? The properties of a good hash function include being deterministic, providing uniform distribution, fast computation, minimal collisions, exhibiting the avalanche effect, ensuring security when needed, and offering customizability for application-specific requirements. Here’s a brief explanation of each property: * Deterministic: A hash function should produce the same hash value for
Question What Is the Bitcoin Whitepaper? The Bitcoin Whitepaper, titled Bitcoin: A Peer-to-Peer Electronic Cash System, is a document published by an individual or group of individuals using the pseudonym Satoshi Nakamoto on October 31, 2008. The Bitcoin Whitepaper lays out the design principles and the technical details of the Bitcoin protocol. The Bitcoin protocol is
Question Who Is Satoshi Nakamoto? Satoshi Nakamoto is a pseudonym used by a person, or possibly a group of people. He is famous for creating Bitcoin, the first digital money that doesn't need a bank or government to work. This kind of money is called a decentralized digital currency. Nakamoto also came up
Question What Is the Maximum Supply of Bitcoin? The maximum supply of Bitcoin is nearly 21 million coins. The exact number is 20,999,999.9769 BTC. This limit is embedded in the protocol to prevent inflation and maintain a level of scarcity. New bitcoins are created through a process called mining, which involves solving complex mathematical problems
Question When Was Bitcoin Launched? Bitcoin, or rather the Bitcoin network, was launched on January 3, 2009. On this date, its creator, known by the pseudonym Satoshi Nakamoto, mined the first block of the Bitcoin blockchain, called the genesis block. The launch of the Bitcoin network marked the beginning of a new era in financial
Question Who Invented Bitcoin? An anonymous person or group known by the pseudonym Satoshi Nakamoto invented Bitcoin. The true identity of Satoshi remains a mystery to this day. On October 31, 2008, Satoshi published a whitepaper titled Bitcoin: A Peer-to-Peer Electronic Cash System, which laid the groundwork for Bitcoin's creation. The following
Question What Is Bitcoin? Bitcoin (BTC) is a type of digital money, or cryptocurrency. Someone, or a group of people, known by the pseudonym Satoshi Nakamoto invented Bitcoin in 2008. It was officially launched as open-source software in 2009. Bitcoin was the first cryptocurrency that didn't need a central authority, like a