It has been a wild run, however right now marks exactly 9 years because the cryptocurrency practice took off: January three, 2009 was the day when the Bitcoin blockchain community had its very first block Mined – the primordial block #zero.

The primary-ever transaction was timestamped at 6:15PM (server time) and yielded a mining reward of 50BTC, which is value roughly $739,312 on the time of writing. It took one other six days till the second block (#1) was mined on January 9, 2009.

Since then, the Bitcoin blockchain has mined effectively over half one million blocks. On the time of writing, #502349 is the final mined block.

Given how a lot the required electrical energy consumption for Bitcoin mining has jumped over time, it’s no shock that – compared to #zero – the mining reward for a single block has dropped to 12.5BTC nowadays.

Nonetheless, that is value a hell of much more right now than 50BTC had been again when it began.

Again on October 31 final yr, the cryptocurrency group equally celebrated 9 years because the ever-mysterious Satoshi Nakamoto launched the quintessential crypto piece – a conceptual paper titled “Bitcoin: A Peer-to-Peer Digital Money System.”

For the reason that beginning of Bitcoin again in 2009, the cryptocurrency market has skilled super development, boasting greater than 1,000 completely different digital currencies and a complete market cap of $695 billion.

Bitcoin continues to be the main cryptocurrency, with a staggering market share of $250 billion.