IT & Software Exam > IT & Software Questions > What is the maximum number of bitcoins that c...
Start Learning for Free
What is the maximum number of bitcoins that can be created?
- a)16 million
- b)21 million
- c)100 million
- d)There is no maximum
Correct answer is option 'B'. Can you explain this answer?
Most Upvoted Answer
What is the maximum number of bitcoins that can be created?a)16 millio...
Blockchain and Cryptocurrency technology.
Maximum number of bitcoins that can be created:
The maximum number of bitcoins that can be created is 21 million.
Explaining the answer:
Bitcoin is a decentralized cryptocurrency that operates on a network of computers called the blockchain. One of the most significant features of Bitcoin is its limited supply. The number of bitcoins that can be created is finite and predetermined in the Bitcoin protocol.
The Bitcoin protocol sets a limit on the number of bitcoins that can be mined. This limit is set at 21 million bitcoins. Currently, there are around 18.5 million bitcoins in circulation, and the remaining 2.5 million bitcoins will be mined over the next few years.
The process of mining bitcoins involves solving complex mathematical equations, and the reward for solving these equations is new bitcoins. The reward for mining new bitcoins is halved every four years. This means that the number of bitcoins that can be mined decreases every four years, and eventually, it will reach the maximum limit of 21 million bitcoins.
Conclusion:
In conclusion, the maximum number of bitcoins that can be created is 21 million. This limit is set by the Bitcoin protocol and is a significant feature of Bitcoin's decentralized nature. Once all the 21 million bitcoins are mined, there will be no more bitcoins created.
Maximum number of bitcoins that can be created:
The maximum number of bitcoins that can be created is 21 million.
Explaining the answer:
Bitcoin is a decentralized cryptocurrency that operates on a network of computers called the blockchain. One of the most significant features of Bitcoin is its limited supply. The number of bitcoins that can be created is finite and predetermined in the Bitcoin protocol.
The Bitcoin protocol sets a limit on the number of bitcoins that can be mined. This limit is set at 21 million bitcoins. Currently, there are around 18.5 million bitcoins in circulation, and the remaining 2.5 million bitcoins will be mined over the next few years.
The process of mining bitcoins involves solving complex mathematical equations, and the reward for solving these equations is new bitcoins. The reward for mining new bitcoins is halved every four years. This means that the number of bitcoins that can be mined decreases every four years, and eventually, it will reach the maximum limit of 21 million bitcoins.
Conclusion:
In conclusion, the maximum number of bitcoins that can be created is 21 million. This limit is set by the Bitcoin protocol and is a significant feature of Bitcoin's decentralized nature. Once all the 21 million bitcoins are mined, there will be no more bitcoins created.
Free Test
FREE
| Start Free Test |
Community Answer
What is the maximum number of bitcoins that can be created?a)16 millio...
What is the maximum number of bitcoins hat can exist ?
|
Explore Courses for IT & Software exam
|
|
Similar IT & Software Doubts
Top Courses for IT & SoftwareView all
What is the maximum number of bitcoins that can be created?a)16 millionb)21 millionc)100 milliond)There is no maximumCorrect answer is option 'B'. Can you explain this answer?
Question Description
What is the maximum number of bitcoins that can be created?a)16 millionb)21 millionc)100 milliond)There is no maximumCorrect answer is option 'B'. Can you explain this answer? for IT & Software 2025 is part of IT & Software preparation. The Question and answers have been prepared according to the IT & Software exam syllabus. Information about What is the maximum number of bitcoins that can be created?a)16 millionb)21 millionc)100 milliond)There is no maximumCorrect answer is option 'B'. Can you explain this answer? covers all topics & solutions for IT & Software 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for What is the maximum number of bitcoins that can be created?a)16 millionb)21 millionc)100 milliond)There is no maximumCorrect answer is option 'B'. Can you explain this answer?.
What is the maximum number of bitcoins that can be created?a)16 millionb)21 millionc)100 milliond)There is no maximumCorrect answer is option 'B'. Can you explain this answer? for IT & Software 2025 is part of IT & Software preparation. The Question and answers have been prepared according to the IT & Software exam syllabus. Information about What is the maximum number of bitcoins that can be created?a)16 millionb)21 millionc)100 milliond)There is no maximumCorrect answer is option 'B'. Can you explain this answer? covers all topics & solutions for IT & Software 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for What is the maximum number of bitcoins that can be created?a)16 millionb)21 millionc)100 milliond)There is no maximumCorrect answer is option 'B'. Can you explain this answer?.
Solutions for What is the maximum number of bitcoins that can be created?a)16 millionb)21 millionc)100 milliond)There is no maximumCorrect answer is option 'B'. Can you explain this answer? in English & in Hindi are available as part of our courses for IT & Software.
Download more important topics, notes, lectures and mock test series for IT & Software Exam by signing up for free.
Here you can find the meaning of What is the maximum number of bitcoins that can be created?a)16 millionb)21 millionc)100 milliond)There is no maximumCorrect answer is option 'B'. Can you explain this answer? defined & explained in the simplest way possible. Besides giving the explanation of
What is the maximum number of bitcoins that can be created?a)16 millionb)21 millionc)100 milliond)There is no maximumCorrect answer is option 'B'. Can you explain this answer?, a detailed solution for What is the maximum number of bitcoins that can be created?a)16 millionb)21 millionc)100 milliond)There is no maximumCorrect answer is option 'B'. Can you explain this answer? has been provided alongside types of What is the maximum number of bitcoins that can be created?a)16 millionb)21 millionc)100 milliond)There is no maximumCorrect answer is option 'B'. Can you explain this answer? theory, EduRev gives you an
ample number of questions to practice What is the maximum number of bitcoins that can be created?a)16 millionb)21 millionc)100 milliond)There is no maximumCorrect answer is option 'B'. Can you explain this answer? tests, examples and also practice IT & Software tests.
|
|
Explore Courses for IT & Software exam
|
|
Signup for Free!
Signup to see your scores go up within 7 days! Learn & Practice with 1000+ FREE Notes, Videos & Tests.
|
© EduRev
|
Education Revolution
|
|
Signup to see your scores
go up within 7 days!
Access 1000+ FREE Docs, Videos and Tests
Takes less than 10 seconds to signup