Bitcoin was the first cryptocurrency. Its peer-to-peer technology allows it to work without any dependence on a central authority or bank. Transactions are carried out and bitcoins are issued collectively using up the network. Although other cryptocurrencies have come along since Bitcoin’s reputation as the most popular one remains intact.
With the biggest variety of markets and the highest value (worth $318 billion in total) Bitcoin is here to stay, but as with any innovation it is not without flaws and it’s acknowledged that improvements could be made. But with a dedicated team of developers always working to address challenges, efforts to mitigate its shortcomings are being made.
Bitcoin is the most widely traded cryptocurrency and one of the primary entrance points for all the other cryptocurrencies. Still, it’s a highly volatile asset that has been known to fluctuate by as much as 10%-20% in a single day.
Bitcoin is an SHA-256 proof-of-work currency with a limit of 21,000,000 total coins and a block time of 10 minutes.