Bitcoin price today, BTC to USD live price is $98,243.00, marketcap and chart

Bitcoin is the first successful peer-to-peer internet currency; no central bank or authority is involved in the transactions and production of Bitcoin.

It was created by an anonymous individual/group under the name Satoshi Nakamoto.

The source code is publicly available as an open source project and anyone can view and participate in the development process. Bitcoin is changing the way we think about money as we speak. The idea was to produce a medium of exchange, independent of any central authority, that can be transferred electronically in a secure, verifiable, and immutable manner.

It is a decentralized peer-to-peer internet currency that facilitates mobile payments, has very low transaction fees, protects your identity, and works anywhere, all the time without a central authority or banks. Bitcoin was designed so that only 21 million Bitcoins will ever be created, making it a deflationary currency.

Bitcoin uses the SHA-256 hashing algorithm with an average transaction confirmation time of 10 minutes. Today, miners mine Bitcoin using ASIC chips dedicated solely to Bitcoin mining, and the hash rate has risen to beta hashrate.

As the first successful cryptocurrency online, Bitcoin inspired other altcoins like Litecoin, Bitcoin, Primecoin, etc. Cryptocurrencies then took off with the creation of the Turing-complete smart contract by Ethereum, leading to the development of other amazing projects like EOS, TRON, and even crypto collectibles like Crypto Kitties.