Bitcoin turned 13 years old; Anniversary of the extraction of the first network block
Today, January 3, 2022, is the thirteenth anniversary of the extraction of the Genesis Block or the zero number of the Bitcoin network. On that day in 2009, the legendary creator of Bitcoin, Satoshi Nakamoto, extracted the first blockchain of the Bitcoin network with a 50-point bonus.
According to the Quinn Telegraph, now, after several Hawing courses, the reward for extracting each block from the Bitcoin network has now reached 6.25 points; The number will be even lower in the future.
Thirteen years later, with the Bitcoin hash rate reaching a record high of 207.53 million hashes per second, there is no sign of a slowdown in transaction processing on the digital currency network.
The bitcoin hash rate, which is a measure of network processing power, given the number of active miners, was temporarily reduced in mid-2021 after mining and other digital currency-related activities were banned in China. Following the ban on mining in China and the reduction in the number of active miners, the bitcoin network hash rate dropped to 58.46 million tranches per second.
A brief history of bitcoin
After the rise of some banks and financial institutions in 2008 sparked an unprecedented financial crisis, Satoshi Nakamoto, the anonymous creator of Bitcoin, trusted the original idea of a decentralized currency that did not require third-party institutions to use it. Published in a text file in October of the same year (October 87).
Nakamoto was opposed to the modern banking system, and because he thought these institutions were unreliable, he intended to cut off banks and other intermediaries from the world economy by launching a digital currency run by members of the community.
Thirteen years after the first blockchain was mined, the market value of this digital currency has now reached nearly $ 900 billion, and many large corporations, banks, and celebrities have invested in it; An event that shows how fast and dramatic the growth of bitcoin has been in these 13 years.