Bitcoin, the most talked-about digital currency in the world, entered 2021 with a record-smashing rally. For the uninitiated, Bitcoin is a digital currency that can be sent from one user to another on the peer-to-peer blockchain network.
This new-age currency works online and allows users to be somewhat anonymous, thanks to decentralisation (no government or central banks needed for transactions).
Satoshi Nakamoto
It all started in 2008 when a Japanese man named Satoshi Nakamoto published his whitepaper about Bitcoin and how it works. According to Nakamoto, Bitcoin will have a finite number of supplies – 21 million bitcoin overall. Right now, we have around 17 million bitcoins already in circulation.
He also stated that the reason behind creating this digital currency is to remove third-party intermediaries that are generally required for digital money transfer. Many believe that he holds around 980,000 bitcoin, which makes him one of the richest men on the earth. However, in 2010, he vanished completely from the internet and hasn’t been heard since. ...