Updated: Aug 27
Network: PoW - Proof of Work
Total Supply: 21 Million*
Founder: Satoshi Nakamoto (pseudonym)
Transaction Cost: 25$ USD (On Average)
Target Market: Libertarian\Investor\Speculator
About: Bitcoin is a decentralized Proof-of-Work digital currency that relies on miners to process transactions on the blockchain by solving complex mathematical equations, this requires huge amounts of electricity because as time goes on the difficulty of those equations increases which requires a higher hashing rate on the hardware of the miners. Proof-Of-Work means that in order for the block to be accepted by the network participants, miners must complete proof of work that covers all of the data in the block. Every miner must have a copy of the blockchain and currently, the size of the Bitcoin blockchain is almost 350GB.
Bitcoin is the first and most valuable cryptocurrency in the world at the time of this writing, is considered digital gold and a store of value. Bitcoin has garnered a lot of media attention over the years and has a lot of interest from institutional traders, celebrities, and icons of our time.