100 Questions of Blockchain – QA. 7: How does bitcoin issue?

100 Questions of Blockchain How does Bitcoin issue? There has no specific issuer of bitcoin it has a decentralized issue mechanism to gradually issue bitcoin The bitcoin system is similar as a big decentralized account book Each block is one page of this account book The system can automatically generate bitcoin as the incentives for miners to encourage them to keep accounts All miners calculate a question together every 10 minutes The miner who gets the answer first will win the right to keep change of account of this page After finishing this page, he will automatically get a certain amount of Bitcoin This is the issue process of new bitcoin According to the design of Satoshi Nakamoto At initial, there were 50 bitcoins bonus for each page Every 210,000 pages The bonus will cut a half Till around 2140 Bitcoin is not able to subdivide anymore Bitcoin will finish issuing, and the total amount is 21,000,000 So mining should be as early as possible 100 Questions of Bitcoin

Comments are closed.