The world’s largest cryptocurrency reached an all-time high on Monday, September 12 – Bitcoin (BTC) celebrated 5,000 days of activity. The network has operated without interruption for 13.69 years.
In Bitcoin terms, the blockchain is online for an average of 753,782 blocks (5,000 days), confirming a block of transactions every 10 minutes. Additionally, 3,464 days have passed since the last vacation event.
The first Bitcoin block was set by Satoshi Nakamoto on January 3, 2009. Bitcoin spends 99.9% of the year online, confirming valid blocks on average every 10 minutes to what is known as a value flow event. The event marks the creation of a “guest block” of 74,638 blocks, leading to the creation of billions of additional bitcoins. Five hours later, at block 74,691, the block was soft-forked, and nodes reached consensus.
In the year In 2013, the Bitcoin software was hacked and the chain split into two. The block was reduced for 6 hours and 20 minutes, bringing the price down by more than 23% to a low of $37. Between 2010 and 2013, the Bitcoin network’s downtime combined makes up about 0.01% of the total time.
Bitcoin Influencers (Bitflueners?) They were. Quickly to Honor During the holiday boat accidents, incidents where Bitcoiners lost their private keys. Others expressed their gratitude to the anonymous creator of the protocol:
5000 days #Bitcoin pic.twitter.com/oTdbmJG0Tk
— Lina Seiche (@LinaSeiche) September 11, 2022
Popular cryptocurrencies such as Solana (SOL) or Ether (ETH) cannot compete with Bitcoin’s proven clock or decentralization. Solana regularly experiences service outages labeled “curse” on the founder’s network, the result of a hard fork that created Ethereum.
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Ethereum founder Vitalik Buterin He boasted In the year By 2020, “You can be net profitable with 60% of your spare time.” However, Bitcoin is still some way from achieving Nakamoto’s promise of a peer-to-peer financial system that eliminates third parties: balancing payments at Layer-2 is an uphill battle.
Until then, Bitcoin should be the most secure, decentralized and most popular cryptocurrency solution.