Bitcoin (BTC) has reached an incredible milestone that cements its place in financial history. The cryptocurrency has now been running non-stop for a decade without any downtime.
This is a remarkable achievement, as it shows that the network is incredibly reliable and can operate continuously, 24 hours a day, seven days a week.
The milestone was discovered through data retrieved from BitcoinUptime, shared by Reddit user Tasigur1 on March 17. According to the data, Bitcoin has run continuously for 3,650 days, making it a remarkable achievement for the cryptocurrency.
Since its inception in 2009, the Bitcoin network has suffered two major downtimes. One occurred in 2010 when a block contained a transaction that created an astronomical number of Bitcoins due to an overflow in the code.
However, the community quickly discovered and fixed the issue, ensuring the integrity of the Bitcoin network. Similarly, in 2013, a block with more transaction inputs than previously seen was mined and broadcasted, causing a fork in the blockchain. However, this issue was also resolved quickly, and the network continued without significant damage.
The fact that Bitcoin has been running without downtime for ten years is a testament to the resilience and reliability of its underlying blockchain technology.
The decentralized nature of the network makes it incredibly challenging for anyone to take it down or compromise its security. The 24/7 availability of the network means that it is always accessible to users, regardless of their location, making it an attractive option for people who want to make transactions outside of regular banking hours or live in countries where traditional banking services are not readily available.
Furthermore, the milestone comes at a time when the United States banking sector is facing a crisis following the high-profile collapse of three lenders within days. Bitcoin’s ten-year uptime is an indication that decentralized finance is a viable option for people looking for an alternative to traditional banking.
The ten-year milestone comes at a time when Bitcoin is experiencing renewed interest from investors and traders. The price of Bitcoin has been steadily climbing in recent days, reaching new multi-month highs.