The Last Bitcoin Mining Expected to Occur in 2140
The mining quantity of the cryptocurrency Bitcoin has surpassed 19 million. [Image source=Yonhap News]
[Asia Economy Intern Reporter Kang Wooseok] The mining quantity of the cryptocurrency Bitcoin has surpassed 19 million. Bitcoin has a fixed total issuance of 21 million units.
On the 3rd (local time), according to cryptocurrency specialized media Cointelegraph and others, the cryptocurrency mining company 'SBI Crypto' succeeded in mining the 19 millionth Bitcoin on the 1st.
Therefore, more than 90% of the total issuance of Bitcoin (21 million units) has been mined, and the remaining Bitcoins are estimated to be around 2 million.
Cointelegraph also reported that the mining of the 19 millionth Bitcoin demonstrates the scarcity of this cryptocurrency.
Bitcoin is a digital currency based on blockchain technology introduced in 2008 by a pseudonymous individual named 'Nakamoto Satoshi.' Nakamoto mined the first 50 coins by generating the first block (Genesis Block) of the Bitcoin network in January 2009.
Bitcoin mining refers to the process where a person who solves complex mathematical calculations with a computer and organizes transaction records among users is rewarded with new coins.
Meanwhile, the industry expects that if the current mining method and speed are maintained, the last Bitcoin mining will be completed in 2140.
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