Blockchain 101: Episode 02 – What is Bitcoin?

The concept of Bitcoin (BTC) was created by Satoshi Nakamoto as a peer-to-peer, decentralized digital currency.

In 2009, Nakamoto mined the first block and received 50 Bitcoins as a block reward. The block reward is halved every four years and all Bitcoins are estimated to be mined by 2140, with a total supply of 21 million in circulation.

As time passed, Bitcoin gradually attained market recognition. Germany became the first country in the world to accept Bitcoin payments; Microsoft, Dell and other renowned companies followed suit; You can even buy an Alienware computer using Bitcoins! Also, investors can invest in Bitcoins on reputable exchange platforms such as Huobi.