Bitcoin
Proof-of-work peer-to-peer currency network with a hard cap of 21 million bitcoins.
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Bitcoin key facts
| Category | Layer 1 blockchain |
|---|---|
| Platforms | Mainnet, RPC |
| Token | BTC |
| Open source | Yes (Bitcoin Core) |
| Launched | 2009 |
| Fees | Set by the sender per transaction; based on size in bytes, not amount; receiving is free |
BTC token
- Price
- $74,634 -0.3% 24h
- Market cap
- $1.5T
- Fully diluted value
- $1.5T
- 30-day change
- -9.8%
Market data: CoinGecko, updated Nov 10, 2026. Educational content, not financial advice.
What is Bitcoin?
Bitcoin is a peer-to-peer digital currency secured by proof-of-work mining. Its first specification was published in 2009 by Satoshi Nakamoto. New blocks arrive about every 10 minutes on average, and issuance halves over time until a total of 21 million bitcoins exist.
How Bitcoin works
A Bitcoin wallet holds private keys and signs each transaction, which proves ownership and stops anyone from altering it afterward.
Signed transactions are broadcast to the network and wait for a miner to include them in a block. Miners compete to find a block that meets strict cryptographic rules, and the network adjusts the difficulty so a block is found about every 10 minutes on average. Each block builds on the previous one, so changing an old block would invalidate every block after it.
The miner who finds a block earns newly issued bitcoin plus the fees in it. That reward started at 50 BTC per block in 2009 and halves every 210,000 blocks: 25 BTC in 2012, 12.5 in 2016, 6.25 in 2020 and 3.125 BTC since April 20, 2024 at block 840,000. The next halving, to 1.5625 BTC at block 1,050,000, is estimated for 2028, and issuance reaches zero around 2140. The Lightning Network runs payment channels that settle back to the chain, typically for under a cent.
How to start with Bitcoin
- You start by installing a wallet on your phone or computer; bitcoin.org says free wallets exist for all major operating systems.
- The wallet generates addresses, and most create a new one for each payment you receive, which helps privacy.
- You can get bitcoin by accepting it as payment or by buying it.
- Back up the recovery phrase before you fund the wallet: nobody, including developers, miners or exchanges, can recover funds lost from a self-custodied wallet.
- Receiving bitcoin costs nothing.
Bitcoin fees and limits
- The fee depends on the transaction's size in bytes, not the amount sent, so moving 100,000 BTC can cost the same as moving 1 BTC, while spending many small received amounts or using multisig costs more.
There is no fixed fee schedule. You attach a fee when you spend, and many wallets let you choose how much; higher fees encourage faster confirmation.
Risks to know before using Bitcoin
- Payments are irreversible, and only the recipient can refund you.
- Bitcoin.org's confirmation guidance: zero confirmations are safe only if you trust the payer, 6 is the minimum it recommends for high-value transfers, and 30 during emergencies.
- A fee below what the network is currently prioritizing can delay the first confirmation considerably.
- All transactions are public and permanent, so anyone can see any address's balance.
- Leaving coins on an exchange adds counterparty risk tied to that custodian's security and solvency.
Bitcoin alternatives
Other projects people compare with Bitcoin.
EVM-compatible blockchain using Proof of Staked Authority with 21 validators and BNB as gas token.
Proof-of-stake smart contract blockchain with ETH as its native currency.
Sharded proof-of-stake Layer 1 blockchain with NEAR as its native token.
EVM-compatible proof-of-stake chain anchored to Ethereum by checkpoints, with POL as the gas and staking token.
Proof-of-stake Layer 1 blockchain with SOL as native token and a 5,000 lamport base fee per signature.
Proof-of-stake Layer 1 blockchain using the Move language and Mysticeti consensus, with SUI as native token.
Where Bitcoin ranks on DappAtlas
Listed next to Bitcoin
Bitcoin pros and cons
- Supply capped at 21 million bitcoins
- Reference software Bitcoin Core is open source on GitHub
- Creator Satoshi Nakamoto left the project in late 2010; no company runs it
- Blocks arrive about every 10 minutes on average, with no guaranteed time
- Miners are expected to rely on fees alone once issuance ends
- Waiting for several confirmations is advised before treating a payment as final
Bitcoin FAQ
What is Bitcoin?
Bitcoin is a peer-to-peer digital currency secured by proof-of-work mining. Its first specification was published in 2009 by Satoshi Nakamoto. New blocks arrive about every 10 minutes on average, and issuance halves over time until a total of 21 million bitcoins exist.
How much does Bitcoin cost?
Set by the sender per transaction; based on size in bytes, not amount; receiving is free, according to Bitcoin’s own page (checked Sep 26, 2026).
Does Bitcoin have a token?
Yes, BTC. Its market cap was $1.5T on CoinGecko on Nov 10, 2026. Educational content, not financial advice.
Sources
How this page works
Sources: Bitcoin: official site, Bitcoin: FAQ, Bitcoin: Bitcoin Core GitHub repository. Data as of Sep 26, 2026.
Not affiliated with any project listed. Educational content, not financial advice.