13.8 C
New York
Wednesday, November 30, 2022

Earnity’s Dan Schatt Discusses Bitcoin Origin and More

There is no doubt that Bitcoin is one of the famous decentralized digital currencies in the market. Its popularity continues to grow daily as more and more users become curious about it. Even so, there are still some facts about the cryptocurrency that many people do not know, which Dan Schatt of Earnity discusses below.

A bug almost destroyed Bitcoin in 2010
. There will only ever be a maximum of fewer than 21 million Bitcoins. More than 10 years ago, though, a bug coded by an unknown person in the Bitcoin blockchain produced more than 184 billion units of the cryptocurrency. Known as the “value overflow incident,” it nearly shut down the entire Bitcoin network. Fortunately, the bug was circumvented after a soft fork, which is what blockchain updates are called, was released to delete all the transactions and mining records after discovering the bug.

The Satoshi unit was coined to honor Bitcoin’s creator.
The origin and evolution of the cryptocurrency have always been attributed to Satoshi Nakamoto, but his true identity is still unknown, and the name is more likely just a pseudonym. Still, people have discovered ways to esteem Bitcoin’s presumed founder. One such method is naming the smallest unit of Bitcoin “Satoshi.” It is equivalent to 100 millionth of a Bitcoin.

You can get Bitcoin for free
. Some sites or apps called Bitcoin faucets hand out tiny amounts of the cryptocurrency. According to Earnity’s Dan Schatt, Bitcoin faucets reward users for completing simple tasks. However, do not get your hopes up, as the amount distributed is only about one Satoshi. That was not always the case, though. Back in 2010, the first Bitcoin faucet was deployed. It sent a whopping 5 Bitcoin, equivalent to over $20,000 today, to each visitor in hopes of urging users to adopt cryptocurrency.

Related Articles

5 Easy Ways To Warm Up Home Floors

Winter is a magical time with all the snow and cozy weather. It’s also a time to take necessary precautions for keeping...

What is ATT Prepaid and Wireless?

AT&T is a prepaid and wireless service provider that offers its customers various services. AT&T offers monthly and pay-as-you-go plans, as well...

The Best Korean Dramas to Watch on nevertheless dramacool

Introduction Dramacool is a great website to watch Korean dramas. It has a wide selection of dramas, and it...

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Stay Connected

0FansLike
0FollowersFollow
0SubscribersSubscribe
- Advertisement -

Latest Articles

5 Easy Ways To Warm Up Home Floors

Winter is a magical time with all the snow and cozy weather. It’s also a time to take necessary precautions for keeping...

What is ATT Prepaid and Wireless?

AT&T is a prepaid and wireless service provider that offers its customers various services. AT&T offers monthly and pay-as-you-go plans, as well...

The Best Korean Dramas to Watch on nevertheless dramacool

Introduction Dramacool is a great website to watch Korean dramas. It has a wide selection of dramas, and it...

Webtoon XYZ: The Best Korean Webtoons You Need To Read

Introduction Webtoon XYZ is a website that specializes in Korean webtoons. They have a wide variety of webtoons to...

You Are My Glory Dramacool: How To Appreciate The Drama In Your Life

Introduction There are many people who appreciate the drama in their lives. They see it as a way to...