On Monday, September 12, the world’s largest cryptocurrency reached a threshold: Bitcoin (BTC) celebrated 5000 days of activity. The network ran almost smoothly for 13.69 years.
The first Bitcoin block was minted by Satoshi Nakamoto in 2009. January 3 Bitcoin has spent 99.9% of the year online, confirming valid blocks on average every 10 minutes to the so-called Value overflow incident. The event is indicates until the creation of the “strange block”, block 74,638, which led to the creation of billions more Bitcoins. Five hours later, at block 74,691, the blockchain soft-forked and nodes reached a consensus.
in 2013 The Bitcoin software cracked and the chain split in two. The blockchain was inactive for 6 hours and 20 minutes, sending the price down more than 23% to hit a low of $37.. Total Bitcoin Network Downtime from 2010 to 2013 is about 0.01% of the time.
Los influencers de Bitcoin (¿Bitfluencers?) se was in a hurry a honor occasion with solemn shipping accidents, events in which Bitcoiners lose their private keys. Others thanked the anonymous developer of the protocol:
– Lina Seiche (@LinaSeiche) in 2022 September 11
Popular cryptocurrencies such as Solana (SOL) and ether (ETH) currently cannot compete with the uptime and decentralization that Bitcoin is known for. yesOlana periodically experiences crashes that its founder describes as “curse” on the networkand the creation of Ethereum was the result of a hard fork.
Vitaliks Buteris, one of the founders of Ethereum, boasted 2020 that “you can be profitable on a net basis with only 60% uptime”. However, Bitcoin is still a long way from Nakamoto’s promise to create a peer-to-peer cash system that eliminates third parties: scaling payments at layer 2 is a struggle.
In the meantime, Bitcoin will have to settle for being the safest, most decentralized, and most popular cryptocurrency solution.
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