The Bitcoin network has reached a major milestone in its history by operating non-stop for a decade, paving the way for a new era of decentralized finance.
One named Tasigur1 Reddit user shared an interesting piece of information on March 17. This shows that Bitcoin has been running continuously 24/7 for the past 10 years without any issues. This period means 3,650 days of uninterrupted operation.
Since the cryptocurrency’s launch in 2009, the network has suffered two major shutdowns. One notable incident occurred in 2010 when a block contained a transaction that created an astronomical amount of Bitcoin due to code overflow. However, the community quickly discovered and fixed the problem, thus ensuring the integrity of the Bitcoin network. Interestingly, Bitcoin’s uptime in 2010 was 99.908%.
Another problem occurred in 2013 when a block containing more transaction inputs than previously seen was mined, causing a fork in the blockchain.
Likewise, the community was quick to detect and resolve the issue, preventing significant damage to the network. As a result of the incident, Bitcoin’s uptime in 2013 was 99.932%.
The fact that Bitcoin has been running non-stop for ten years is a testament to the flexibility and reliability of the underlying blockchain technology. In particular, the decentralized nature makes it extremely difficult for anyone to shut down the network or compromise its security.
The 10-year lifespan further reinforces Bitcoin’s founding ideology of addressing the shortcomings of the traditional financial sector. 24/7 availability means that users are always available, regardless of their location. This has made it attractive to people who want to transact outside normal banking hours or live in countries where traditional banking services are not available to everyone.
Moreover, this milestone coincides with the banking crisis in the United States.
The price of Bitcoin has risen significantly in recent days, hitting new multi-month highs. At the time of writing, the cryptocurrency is trading at $27,326.
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