Bitcoin ( BTC)
Peering electronic cash system that uses the same name of digital currency, which is often called cryptocurrency or virtual currency. Network is completely decentralized. has no central administrator or any of its analogue. Bitcoin can be used to pay for goods or services from sellers who are ready to accept them.
There is a possibility to exchange real money via specialized platforms for trades or exchangers.
One of the features - the issue of new bitcoin. It is decentralized, limited space-time, relatively randomly distributed among the volunteers who use their computing power protection equipment for the payment system by the proof-of-work of re-spending. Maintenance activities of the system with the ability to get reward by issued bitcoin and commission fees called Mining.
- Cryptographic hashing algorithm - SHA-256
- Generation System - proof of work
- Blocks to the complexity recosting - 2016
- Expected generation time - 10 min
- Total coins - 21000000 BTC