Bitcoin | Arkham
Live on-chain intelligence for Bitcoin (BTC). View top holders, exchange flows, and real-time transaction data.
About Bitcoin (BTC)
Bitcoin (BTC) is the world's first decentralized digital currency, introduced in a 2008 whitepaper by the pseudonymous creator Satoshi Nakamoto. Launched on January 9, 2009, it operates on a technology called a blockchain, a distributed public ledger that records all transactions. Unlike fiat currencies like the US Dollar or British Pound, which are controlled by central banks, Bitcoin is managed by a decentralized network of computers, allowing for peer-to-peer transactions without intermediaries.
Who created Bitcoin?
The creator of Bitcoin is an unknown individual or group known as Satoshi Nakamoto. The whitepaper, titled "Bitcoin: A Peer-to-Peer Electronic Cash System," laid out the framework for a currency independent of any central authority. To this day, Satoshi Nakamoto's true identity remains one of the biggest mysteries in technology, and they have not been publicly active since 2011.
How does Bitcoin work?
At its core, Bitcoin is a digital file that records transactions in units called blocks. Each new block is cryptographically linked to the previous one, forming a secure "blockchain." This chain serves as a public ledger, meaning a copy is distributed across thousands of computers (nodes) worldwide. This decentralization ensures that no single entity can alter the transaction history, making the network secure and transparent.
What is Bitcoin Mining?
Bitcoin mining is the process by which new bitcoins are created and new transactions are verified and added to the blockchain. Miners use powerful computers to solve a complex mathematical problem. The first miner to solve the problem gets to create the next block of transactions and is rewarded with a certain amount of new Bitcoin. This process, known as Proof-of-Work (PoW), serves two purposes: it secures the network from fraudulent transactions and it is the mechanism through which new BTC enters circulation.
Bitcoin Halving
The Bitcoin Halving is a pre-programmed event in Bitcoin's code that occurs approximately every four years, or after every 210,000 blocks are mined. It cuts the reward for mining new blocks in half. This mechanism is Bitcoin's monetary policy, designed to control inflation by reducing the rate at which new bitcoins are created. The total supply of Bitcoin is capped at 21 million, and the halving ensures this supply is released at a predictable, slowing rate, making BTC a provably scarce asset.