Dropee question of the day code 9 December What is the maximum supply of Bitcoin?

Dropee Question of the Day Code 9 December: Here is the answer to today's Dropee Question of the Day: What is the maximum supply of Bitcoin? and the answer is 21 million

by Alaguvelan

Updated December 9, 2024 9:19 AMDec 09, 2024

Dropee question of the day code 9 December What is the maximum supply of Bitcoin?

Today's Dropped Question of the Day Code 9 December 2024

We have the answer to Dropee Question of the Day Code December 9, 2024 puzzle. This answer will help you finish the puzzle you’re working on.

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Here is the today's dropee question of the day code Answers for 9 December.

QUESTION: What is the maximum supply of Bitcoin?

ANSWER: 21 million

The maximum supply of Bitcoin is capped at 21 million coins, as defined by its creator, Satoshi Nakamoto, in the cryptocurrency's protocol. This limit is hardcoded into Bitcoin's design to mimic the scarcity of precious resources like gold, ensuring it cannot be inflated beyond this cap.

The supply is gradually released through a process called mining, where miners solve complex mathematical problems to validate transactions and add them to the blockchain. The reward for mining Bitcoin is halved approximately every four years in an event called the "halving," further slowing down the creation of new coins over time. This fixed supply plays a crucial role in Bitcoin's value proposition as a deflationary asset and a potential store of value.

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Dropee question of the day code 9 December What is the maximum supply of Bitcoin?

Today's Dropped Question of the Day Code 9 December 2024

All Other Puzzle solutions for Today March 30, 2025

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