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<span id="openzim-page-title" class="mw-page-title-main"><span class="mw-page-title-main">Bitcoin protocol</span></span>

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</style><div role="note" class="hatnote navigation-not-searchable">For broader coverage of this topic, see <a href="Bitcoin" title="Bitcoin">Bitcoin</a>.</div>

<p>The <b>bitcoin protocol</b> is the <a href="Communication_protocol" title="Communication protocol">set of rules</a> that govern the functioning of <a href="Bitcoin" title="Bitcoin">bitcoin</a>. Its key components and principles are: a <a href="Peer-to-peer" title="Peer-to-peer">peer-to-peer</a> decentralized network with no central oversight; the <a href="Blockchain" title="Blockchain">blockchain</a> technology, a public <a href="Ledger" title="Ledger">ledger</a> that records all bitcoin transactions; <a href="Mining_(cryptocurrency)" class="mw-redirect" title="Mining (cryptocurrency)">mining</a> and <a href="Proof_of_work" title="Proof of work">proof of work</a>, the process to create new bitcoins and verify transactions; and cryptographic security.

</p><p>Users broadcast <a href="Digital_signature" title="Digital signature">cryptographically signed</a> messages to the network using bitcoin <a href="Cryptocurrency_wallet" title="Cryptocurrency wallet">cryptocurrency wallet</a> software. These messages are proposed transactions, changes to be made in the ledger. Each node has a copy of the ledger's entire transaction history. If a transaction violates the rules of the bitcoin protocol, it is ignored, as transactions only occur when the entire network reaches a consensus that they should take place. This "full network consensus" is achieved when each node on the network verifies the results of a <a href="Proof-of-work" class="mw-redirect" title="Proof-of-work">proof-of-work</a> operation called <i>mining</i>. Mining packages groups of transactions into blocks, and produces a <a href="Hash_function" title="Hash function">hash code</a> that follows the rules of the bitcoin protocol. Creating this hash requires expensive <a href="Energy" title="Energy">energy</a>, but a network node can verify the hash is valid using very little energy. If a miner proposes a block to the network, and its hash is valid, the block and its ledger changes are added to the blockchain, and the network moves on to yet unprocessed transactions. In case there is a dispute, then the longest chain is considered to be correct. A new block is created every 10 minutes, on average.

</p><p>Changes to the bitcoin protocol require consensus among the network participants. The bitcoin protocol has inspired the creation of numerous other digital currencies and blockchain-based technologies, making it a foundational technology in the field of <a href="Cryptocurrency" title="Cryptocurrency">cryptocurrencies</a>.

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<div class="mw-heading mw-heading2"><h2 id="Blockchain">Blockchain</h2></div>

<p><a href="Blockchain" title="Blockchain">Blockchain</a> technology is a decentralized and secure digital ledger that records transactions across a network of computers. It ensures transparency, immutability, and tamper resistance, making data manipulation difficult. Blockchain is the underlying technology for cryptocurrencies like bitcoin and has applications beyond finance, such as supply chain management and smart contracts.<sup id="cite_ref-1" class="reference"><a href="#cite_note-1"><span class="cite-bracket">[</span>1<span class="cite-bracket">]</span></a></sup>

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<div class="mw-heading mw-heading3"><h3 id="Transactions">Transactions</h3></div>

<p>The network requires minimal structure to share transactions. An <a href="Ad_hoc" title="Ad hoc">ad hoc</a> decentralized network of volunteers is sufficient. Messages are broadcast on a <a href="Best-effort_delivery" title="Best-effort delivery">best-effort</a> basis, and nodes can leave and rejoin the network at will. Upon reconnection, a node downloads and verifies new blocks from other nodes to complete its local copy of the blockchain.<sup id="cite_ref-whitepaper_2-0" class="reference"><a href="#cite_note-whitepaper-2"><span class="cite-bracket">[</span>2<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-UCPaper_3-0" class="reference"><a href="#cite_note-UCPaper-3"><span class="cite-bracket">[</span>3<span class="cite-bracket">]</span></a></sup>

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<div class="mw-heading mw-heading2"><h2 id="Mining">Mining</h2></div>

<p>Bitcoin uses a proof-of-work system or a proof-or-transaction to form a distributed timestamp server as a <a href="Proof-of-work_system" class="mw-redirect" title="Proof-of-work system">peer-to-peer network</a>.<sup id="cite_ref-UCPaper_3-1" class="reference"><a href="#cite_note-UCPaper-3"><span class="cite-bracket">[</span>3<span class="cite-bracket">]</span></a></sup> This work is often called <i>bitcoin mining</i>. During mining, practically all of the computing power of the bitcoin network is used to solve cryptographic tasks, which is proof of work. Their purpose is to ensure that the generation of valid blocks involves a certain amount of effort so that subsequent modification of the blockchain, such as in the 51% attack scenario, can be practically ruled out. Because of the difficulty, miners form "<a href="Mining_pool" title="Mining pool">mining pools</a>" to get payouts despite these high power requirements, costly hardware deployments, and hardware under control. As a result of the Chinese ban on bitcoin mining in 2021, the United States currently holds the largest share of bitcoin mining pools.<sup id="cite_ref-4" class="reference"><a href="#cite_note-4"><span class="cite-bracket">[</span>4<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-5" class="reference"><a href="#cite_note-5"><span class="cite-bracket">[</span>5<span class="cite-bracket">]</span></a></sup>

</p><p>Requiring a proof of work to accept a new block to the blockchain was <a href="Satoshi_Nakamoto" title="Satoshi Nakamoto">Satoshi Nakamoto</a>'s key innovation. The mining process involves identifying a block that, when hashed twice with <a href="SHA-256" class="mw-redirect" title="SHA-256">SHA-256</a>, yields a number smaller than the given difficulty target. While the average work required increases in inverse proportion to the difficulty target, a hash can always be verified by executing a single round of double SHA-256.

</p><p>For the bitcoin timestamp network, a valid proof of work is found by incrementing a <a href="Cryptographic_nonce" title="Cryptographic nonce">nonce</a> until a value is found that gives the block's hash the required number of leading zero bits. Once the <a href="Hash_function" title="Hash function">hashing</a> has produced a valid result, the block cannot be changed without redoing the work. As later blocks are chained after it, the work to change the block would include redoing the work for each subsequent block. If there is a deviation in consensus then a <a href="Fork_(blockchain)" title="Fork (blockchain)">blockchain fork</a> can occur.

</p><p>Majority consensus in bitcoin is represented by the longest chain, which required the greatest amount of effort to produce. If a majority of computing power is controlled by honest nodes, the honest chain will grow fastest and outpace any competing chains. To modify a past block, an attacker would have to redo the proof-of-work of that block and all blocks after it and then surpass the work of the honest nodes. The probability of a slower attacker catching up diminishes exponentially as subsequent blocks are added.<sup id="cite_ref-UCPaper_3-2" class="reference"><a href="#cite_note-UCPaper-3"><span class="cite-bracket">[</span>3<span class="cite-bracket">]</span></a></sup>

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<p>To compensate for increasing hardware speed and varying interest in running nodes over time, the difficulty of finding a valid hash is adjusted roughly every two weeks. If blocks are generated too quickly, the difficulty increases and more hashes are required to make a block and to generate new bitcoins.<sup id="cite_ref-UCPaper_3-3" class="reference"><a href="#cite_note-UCPaper-3"><span class="cite-bracket">[</span>3<span class="cite-bracket">]</span></a></sup>

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<div class="mw-heading mw-heading3"><h3 id="Difficulty_and_mining_pools">Difficulty and mining pools</h3></div>

<div role="note" class="hatnote navigation-not-searchable">Further information: <a href="Mining_pool" title="Mining pool">Mining pool</a></div>

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</style><div class="thumb tmulti tright"><div class="thumbinner multiimageinner" style="width:471px;max-width:471px"><div class="trow"><div class="tsingle" style="width:139px;max-width:139px"><div class="thumbimage" style="height:103px;overflow:hidden"><span typeof="mw:File"></span></div><div class="thumbcaption">Early bitcoin miners <a href="General-purpose_computing_on_graphics_processing_units" title="General-purpose computing on graphics processing units">used GPUs for mining</a>, as they were better suited to the <a href="Proof-of-work" class="mw-redirect" title="Proof-of-work">proof-of-work</a> algorithm than <a href="Central_processing_unit" title="Central processing unit">CPUs</a>.<sup id="cite_ref-6" class="reference"><a href="#cite_note-6"><span class="cite-bracket">[</span>6<span class="cite-bracket">]</span></a></sup></div></div><div class="tsingle" style="width:141px;max-width:141px"><div class="thumbimage" style="height:103px;overflow:hidden"><span typeof="mw:File"></span></div><div class="thumbcaption">Later amateurs mined bitcoins with specialized <a href="Field-programmable_gate_array" title="Field-programmable gate array">FPGA</a> and <a href="Application-specific_integrated_circuit" title="Application-specific integrated circuit">ASIC</a> chips. The chips pictured have become obsolete due to increasing difficulty.</div></div><div class="tsingle" style="width:185px;max-width:185px"><div class="thumbimage" style="height:103px;overflow:hidden"><span typeof="mw:File"></span></div><div class="thumbcaption">Today, bitcoin mining companies <a href="Data_center" title="Data center">dedicate facilities</a> to housing and operating large amounts of high-performance mining hardware.<sup id="cite_ref-worldoil_7-0" class="reference"><a href="#cite_note-worldoil-7"><span class="cite-bracket">[</span>7<span class="cite-bracket">]</span></a></sup></div></div></div></div></div>

<p>Bitcoin mining is a competitive endeavor. An "<a href="Arms_race" title="Arms race">arms race</a>" has been observed through the various hashing technologies that have been used to mine bitcoins: basic <a href="Central_processing_unit" title="Central processing unit">central processing units</a> (CPUs), high-end <a href="Graphics_processing_unit" title="Graphics processing unit">graphics processing units</a> (GPUs), <a href="Field-programmable_gate_array" title="Field-programmable gate array">field-programmable gate arrays</a> (FPGAs) and <a href="Application-specific_integrated_circuit" title="Application-specific integrated circuit">application-specific integrated circuits</a> (ASICs) all have been used, each reducing the profitability of the less-specialized technology. Bitcoin-specific ASICs are now the primary method of mining bitcoin and have surpassed GPU speed by as much as 300-fold. The difficulty of the mining process is periodically adjusted to the mining power active on the network. As bitcoins have become more difficult to mine, computer hardware manufacturing companies have seen an increase in sales of high-end ASIC products.<sup id="cite_ref-8" class="reference"><a href="#cite_note-8"><span class="cite-bracket">[</span>8<span class="cite-bracket">]</span></a></sup>

</p><p>Computing power is often bundled together or "<a href="Mining_pool" title="Mining pool">pooled</a>" to reduce variance in miner income. Individual mining rigs often have to wait for long periods to confirm a block of transactions and receive payment. In a pool, all participating miners get paid every time a participating server solves a block. This payment depends on the amount of work an individual miner contributed to help find that block, and the payment system used by the pool.<sup id="cite_ref-9" class="reference"><a href="#cite_note-9"><span class="cite-bracket">[</span>9<span class="cite-bracket">]</span></a></sup>

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<div class="mw-heading mw-heading3"><h3 id="Environmental_effects">Environmental effects</h3></div>

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</style><div role="note" class="hatnote navigation-not-searchable dablink excerpt-hat selfref">This section is an excerpt from <a href="Environmental_impact_of_bitcoin" title="Environmental impact of bitcoin">Environmental impact of bitcoin</a>.<span class="mw-editsection-like "><span class="mw-editsection-bracket">[</span><a class="external text external" href="https://en.wikipedia.org/w/index.php?title=Environmental_impact_of_bitcoin&action=edit">edit</a><span class="mw-editsection-bracket">]</span></span></div><div class="excerpt">

The <a href="Environmental_impact_of_bitcoin" title="Environmental impact of bitcoin">environmental impact of bitcoin</a> is significant. <a href="Bitcoin_mining" class="mw-redirect" title="Bitcoin mining">Bitcoin mining</a>, the process by which <a href="Bitcoin" title="Bitcoin">bitcoins</a> are created and transactions are finalized, is energy-consuming and results in <a href="Carbon_emissions" class="mw-redirect" title="Carbon emissions">carbon emissions</a>,<sup id="cite_ref-Environmental_impact_of_bitcoin_NYT20220116_10-0" class="reference"><a href="#cite_note-Environmental_impact_of_bitcoin_NYT20220116-10"><span class="cite-bracket">[</span>10<span class="cite-bracket">]</span></a></sup> as about half of the electricity used in 2025 was generated through <a href="Fossil_fuel" title="Fossil fuel">fossil fuels</a>.<sup id="cite_ref-Environmental_impact_of_bitcoin_CCAF2025_11-0" class="reference"><a href="#cite_note-Environmental_impact_of_bitcoin_CCAF2025-11"><span class="cite-bracket">[</span>11<span class="cite-bracket">]</span></a></sup> Moreover, bitcoins are mined on specialized <a href="Computer_hardware" title="Computer hardware">computer hardware</a> resulting in <a href="Electronic_waste" title="Electronic waste">electronic waste</a>.<sup id="cite_ref-Environmental_impact_of_bitcoin_deVries2021_12-0" class="reference"><a href="#cite_note-Environmental_impact_of_bitcoin_deVries2021-12"><span class="cite-bracket">[</span>12<span class="cite-bracket">]</span></a></sup> Scholars argue that bitcoin mining could support <a href="Renewable_energy_development" class="mw-redirect" title="Renewable energy development">renewable energy development</a> by utilizing surplus electricity from <a href="Wind_power" title="Wind power">wind</a> and <a href="Solar_power" title="Solar power">solar</a>.<sup id="cite_ref-Environmental_impact_of_bitcoin_You2023_13-0" class="reference"><a href="#cite_note-Environmental_impact_of_bitcoin_You2023-13"><span class="cite-bracket">[</span>13<span class="cite-bracket">]</span></a></sup> Bitcoin's environmental impact has attracted the attention of regulators, <a href="Legality_of_cryptocurrency_by_country_or_territory" title="Legality of cryptocurrency by country or territory">leading to incentives or restrictions in various jurisdictions</a>.<sup id="cite_ref-Environmental_impact_of_bitcoin_Stoll2023_14-0" class="reference"><a href="#cite_note-Environmental_impact_of_bitcoin_Stoll2023-14"><span class="cite-bracket">[</span>14<span class="cite-bracket">]</span></a></sup></div></div>

<div class="mw-heading mw-heading3"><h3 id="Mined_bitcoins">Mined bitcoins</h3></div>

<p>By convention, the first transaction in a block is a special transaction that produces new bitcoins owned by the creator of the block. This is the incentive for nodes to support the network.<sup id="cite_ref-whitepaper_2-1" class="reference"><a href="#cite_note-whitepaper-2"><span class="cite-bracket">[</span>2<span class="cite-bracket">]</span></a></sup> It provides a way to move new bitcoins into circulation. The reward for mining halves every 210,000 blocks. It started at 50 bitcoin, dropped to 25 in late 2012, dropped again to 12.5 on the summer of 2016, and to 6.25 bitcoin in 2020. The most recent halving, which occurred on 20 April 2024 at 12:09am UTC (with block number 840,000), reduced the block reward to 3.125 bitcoins.<sup id="cite_ref-15" class="reference"><a href="#cite_note-15"><span class="cite-bracket">[</span>15<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-16" class="reference"><a href="#cite_note-16"><span class="cite-bracket">[</span>16<span class="cite-bracket">]</span></a></sup> The next halving is expected to occur in 2028, when the block reward will fall to 1.625 bitcoins.<sup id="cite_ref-17" class="reference"><a href="#cite_note-17"><span class="cite-bracket">[</span>17<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-18" class="reference"><a href="#cite_note-18"><span class="cite-bracket">[</span>18<span class="cite-bracket">]</span></a></sup> This halving process is programmed to continue a maximum of 64 times before new coin creation ceases.<sup id="cite_ref-antonopoulos-2017_19-0" class="reference"><a href="#cite_note-antonopoulos-2017-19"><span class="cite-bracket">[</span>19<span class="cite-bracket">]</span></a></sup>

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<div class="mw-heading mw-heading2"><h2 id="Payment_verification">Payment verification</h2></div>

<div role="note" class="hatnote navigation-not-searchable">Main article: <a href="Online_transaction_processing" title="Online transaction processing">Online transaction processing</a></div>

<p>Each miner can choose which transactions are included in or exempted from a block.<sup id="cite_ref-bmg_20-0" class="reference"><a href="#cite_note-bmg-20"><span class="cite-bracket">[</span>20<span class="cite-bracket">]</span></a></sup> A greater number of transactions in a block does not equate to greater computational power required to solve that block.<sup id="cite_ref-bmg_20-1" class="reference"><a href="#cite_note-bmg-20"><span class="cite-bracket">[</span>20<span class="cite-bracket">]</span></a></sup>

</p><p>As noted in Nakamoto's whitepaper, it is possible to verify bitcoin payments without running a full network node (simplified payment verification, SPV). A user only needs a copy of the block headers of the longest chain, which are available by querying network nodes until it is apparent that the longest chain has been obtained; then, get the <a href="Merkle_tree" title="Merkle tree">Merkle tree</a> branch linking the transaction to its block. Linking the transaction to a place in the chain demonstrates that a network node has accepted it, and blocks added after it further establish the confirmation.<sup id="cite_ref-whitepaper_2-2" class="reference"><a href="#cite_note-whitepaper-2"><span class="cite-bracket">[</span>2<span class="cite-bracket">]</span></a></sup>

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<div class="mw-heading mw-heading2"><h2 id="Protocol_features">Protocol features</h2></div>

<div class="mw-heading mw-heading3"><h3 id="Security">Security</h3></div>

<p>Various potential attacks on the bitcoin network and its use as a payment system, real or theoretical, have been considered. The bitcoin protocol includes several features that protect it against some of those attacks, such as unauthorized spending, double spending, forging bitcoins, and tampering with the blockchain. Other attacks, such as theft of private keys, require due care by users.<sup id="cite_ref-quantitative_21-0" class="reference"><a href="#cite_note-quantitative-21"><span class="cite-bracket">[</span>21<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-primer_22-0" class="reference"><a href="#cite_note-primer-22"><span class="cite-bracket">[</span>22<span class="cite-bracket">]</span></a></sup>

</p>

<div class="mw-heading mw-heading4"><h4 id="Unauthorized_spending">Unauthorized spending</h4></div>

<p>Unauthorized spending is mitigated by bitcoin's implementation of public-private key cryptography. For example, when Alice sends a bitcoin to Bob, Bob becomes the new owner of the bitcoin. Eve, observing the transaction, might want to spend the bitcoin Bob just received, but she cannot sign the transaction without the knowledge of Bob's private key.<sup id="cite_ref-primer_22-1" class="reference"><a href="#cite_note-primer-22"><span class="cite-bracket">[</span>22<span class="cite-bracket">]</span></a></sup>

</p>

<div class="mw-heading mw-heading4"><h4 id="Double_spending">Double spending</h4></div>

<p>A specific problem that an internet payment system must solve is <a href="Double-spending" title="Double-spending">double-spending</a>, whereby a user pays the same coin to two or more different recipients. An example of such a problem would be if Eve sent a bitcoin to Alice and later sent the same bitcoin to Bob. The bitcoin network guards against double-spending by recording all bitcoin transfers in a ledger (the blockchain) that is visible to all users, and ensuring for all transferred bitcoins that they have not been previously spent.<sup id="cite_ref-primer_22-2" class="reference"><a href="#cite_note-primer-22"><span class="cite-bracket">[</span>22<span class="cite-bracket">]</span></a></sup><sup class="reference nowrap"><span title="Page / location: 4">: 4 </span></sup>

</p>

<div class="mw-heading mw-heading4"><h4 id="Race_attack">Race attack</h4></div>

<p>If Eve offers to pay Alice a bitcoin in exchange for goods and signs a corresponding transaction, it is still possible that she also creates a different transaction at the same time sending the same bitcoin to Bob. By the rules, the network accepts only one of the transactions. This is called a <a href="Race_condition" title="Race condition">race attack</a>, since there is a race between the recipients to accept the transaction first. Alice can reduce the risk of race attack stipulating that she will not deliver the goods until Eve's payment to Alice appears in the blockchain.<sup id="cite_ref-cornell4220_23-0" class="reference"><a href="#cite_note-cornell4220-23"><span class="cite-bracket">[</span>23<span class="cite-bracket">]</span></a></sup>

</p><p>A variant race attack (which has been called a Finney attack by reference to Hal Finney) requires the participation of a miner. Instead of sending both payment requests (to pay Bob and Alice with the same coins) to the network, Eve issues only Alice's payment request to the network, while the accomplice tries to mine a block that includes the payment to Bob instead of Alice. There is a positive probability that the rogue miner will succeed before the network, in which case the payment to Alice will be rejected. As with the plain race attack, Alice can reduce the risk of a Finney attack by waiting for the payment to be included in the blockchain.<sup id="cite_ref-24" class="reference"><a href="#cite_note-24"><span class="cite-bracket">[</span>24<span class="cite-bracket">]</span></a></sup>

</p>

<div class="mw-heading mw-heading4"><h4 id="History_modification">History modification</h4></div>

<p>Each block that is added to the blockchain, starting with the block containing a given transaction, is called a confirmation of that transaction. Ideally, merchants and services that receive payment in bitcoin should wait for at least a few confirmations to be distributed over the network before assuming that the payment was done. The more confirmations that the merchant waits for, the more difficult it is for an attacker to successfully reverse the transaction—unless the attacker controls more than half the total network power, in which case it is called a 51% attack, or a majority attack.<sup id="cite_ref-51%_25-0" class="reference"><a href="#cite_note-51%-25"><span class="cite-bracket">[</span>25<span class="cite-bracket">]</span></a></sup>

Although more difficult for attackers of a smaller size, there may be financial incentives that make history modification attacks profitable.<sup id="cite_ref-26" class="reference"><a href="#cite_note-26"><span class="cite-bracket">[</span>26<span class="cite-bracket">]</span></a></sup>

</p>

<div class="mw-heading mw-heading3"><h3 id="Scalability">Scalability</h3></div>

<div class="excerpt-block"><div role="note" class="hatnote navigation-not-searchable dablink excerpt-hat selfref">This section is an excerpt from <a href="Bitcoin_scalability_problem" title="Bitcoin scalability problem">Bitcoin scalability problem</a>.<span class="mw-editsection-like "><span class="mw-editsection-bracket">[</span><a class="external text external" href="https://en.wikipedia.org/w/index.php?title=Bitcoin_scalability_problem&action=edit">edit</a><span class="mw-editsection-bracket">]</span></span></div><div class="excerpt">

<p>The <a href="Bitcoin_scalability_problem" title="Bitcoin scalability problem">Bitcoin scalability problem</a> refers to the limited capability of the <a href="Bitcoin" title="Bitcoin">Bitcoin</a> network to handle large amounts of transaction data on its platform in a short span of time.<sup id="cite_ref-27" class="reference"><a href="#cite_note-27"><span class="cite-bracket">[</span>27<span class="cite-bracket">]</span></a></sup> It is related to the fact that records (known as <i>blocks</i>) in the Bitcoin <a href="Bitcoin#Blockchain" title="Bitcoin">blockchain</a> are limited in size and frequency.<sup id="cite_ref-Bitcoin_scalability_problem_onscaling_28-0" class="reference"><a href="#cite_note-Bitcoin_scalability_problem_onscaling-28"><span class="cite-bracket">[</span>28<span class="cite-bracket">]</span></a></sup>

</p>

Bitcoin's blocks contain the transactions on the bitcoin network.<sup id="cite_ref-Bitcoin_scalability_problem_mastering_29-0" class="reference"><a href="#cite_note-Bitcoin_scalability_problem_mastering-29"><span class="cite-bracket">[</span>29<span class="cite-bracket">]</span></a></sup><sup class="reference nowrap"><span title="Page / location: ch. 2">: ch. 2 </span></sup> The on-chain transaction processing capacity of the bitcoin network is limited by the average block creation time of 10 minutes and the original block size limit of 1 megabyte. These jointly constrain the network's <a href="Throughput" class="mw-redirect" title="Throughput">throughput</a>. The transaction processing capacity maximum estimated using an average or median transaction size is between 3.3 and 7 transactions per second.<sup id="cite_ref-Bitcoin_scalability_problem_onscaling_28-1" class="reference"><a href="#cite_note-Bitcoin_scalability_problem_onscaling-28"><span class="cite-bracket">[</span>28<span class="cite-bracket">]</span></a></sup> There are various proposed and activated solutions to address this issue.</div></div>

<div class="mw-heading mw-heading3"><h3 id="Privacy">Privacy</h3></div>

<div class="mw-heading mw-heading4"><h4 id="Deanonymisation_of_clients">Deanonymisation of clients</h4></div>

<p><a href="Deanonymisation" class="mw-redirect" title="Deanonymisation">Deanonymisation</a> is a strategy in data mining in which anonymous data is cross-referenced with other sources of data to re-identify the anonymous data source. Along with transaction graph analysis, which may reveal connections between bitcoin addresses (pseudonyms),<sup id="cite_ref-quantitative_21-1" class="reference"><a href="#cite_note-quantitative-21"><span class="cite-bracket">[</span>21<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-reid_30-0" class="reference"><a href="#cite_note-reid-30"><span class="cite-bracket">[</span>30<span class="cite-bracket">]</span></a></sup> there is a possible attack<sup id="cite_ref-dep2p_31-0" class="reference"><a href="#cite_note-dep2p-31"><span class="cite-bracket">[</span>31<span class="cite-bracket">]</span></a></sup> which links a user's pseudonym to its <a href="IP_address" title="IP address">IP address</a>. If the peer is using <a href="Tor_(anonymity_network)" class="mw-redirect" title="Tor (anonymity network)">Tor</a>, the attack includes a method to separate the peer from the Tor network, forcing them to use their real IP address for any further transactions. The cost of the attack on the full bitcoin network was estimated to be under €1500 per month, as of 2014.<sup id="cite_ref-dep2p_31-1" class="reference"><a href="#cite_note-dep2p-31"><span class="cite-bracket">[</span>31<span class="cite-bracket">]</span></a></sup>

</p>

<ul><li><a href="Lists_of_network_protocols" title="Lists of network protocols">Lists of network protocols</a></li></ul>

<div class="mw-heading mw-heading2"><h2 id="References">References</h2></div>

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</style><cite id="CITEREFHut2023" class="citation web cs1">Hut, Moody (18 December 2023). <a rel="nofollow" class="external text" href="https://moodyhut.com/blockchain-technology/">"What is Blockchain Technology and How Does it Work"</a>.</cite></span>

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<li id="cite_note-UCPaper-3"><span class="mw-cite-backlink">^ <a href="#cite_ref-UCPaper_3-0"><sup><i><b>a</b></i></sup></a> <a href="#cite_ref-UCPaper_3-1"><sup><i><b>b</b></i></sup></a> <a href="#cite_ref-UCPaper_3-2"><sup><i><b>c</b></i></sup></a> <a href="#cite_ref-UCPaper_3-3"><sup><i><b>d</b></i></sup></a></span> <span class="reference-text"><cite id="CITEREFBarber,_SimonBoyen,_XavierShi,_ElaineUzun,_Ersin2012" class="citation book cs1">Barber, Simon; Boyen, Xavier; <a href="Elaine_Shi" title="Elaine Shi">Shi, Elaine</a> & Uzun, Ersin (2012). <a rel="nofollow" class="external text" href="http://crypto.stanford.edu/~xb/fc12/bitcoin.pdf">"Bitter to Better – how to make Bitcoin a better currency"</a> <span class="cs1-format">(PDF)</span>. <i>Financial Cryptography and Data Security</i>. Lecture Notes in Computer Science. Vol. 7397. <a href="Springer_Publishing" title="Springer Publishing">Springer Publishing</a>. pp. <span class="nowrap">399–</span>414. <a href="Doi_(identifier)" class="mw-redirect" title="Doi (identifier)">doi</a>:<a rel="nofollow" class="external text" href="https://doi.org/10.1007%2F978-3-642-32946-3_29">10.1007/978-3-642-32946-3_29</a>. <a href="ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <bdi>978-3-642-32945-6</bdi>.</cite></span>

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<li id="cite_note-4"><span class="mw-cite-backlink"><b><a href="#cite_ref-4">^</a></b></span> <span class="reference-text"><cite id="CITEREFSigalos2021" class="citation web cs1">Sigalos, MacKenzie (15 June 2021). <a rel="nofollow" class="external text" href="https://www.cnbc.com/2021/06/15/chinas-bitcoin-miner-exodus-.html">"China is kicking out more than half the world's bitcoin miners – and a whole lot of them could be headed to Texas"</a>. <i>CNBC</i><span class="reference-accessdate">. Retrieved <span class="nowrap">5 December</span> 2023</span>.</cite></span>

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<li id="cite_note-5"><span class="mw-cite-backlink"><b><a href="#cite_ref-5">^</a></b></span> <span class="reference-text"><cite class="citation web cs1"><a rel="nofollow" class="external text" href="https://ccaf.io/cbnsi/cbeci/mining_map">"Cambridge Bitcoin Electricity Consumption Index (CBECI)"</a>. <i>ccaf.io</i><span class="reference-accessdate">. Retrieved <span class="nowrap">5 December</span> 2023</span>.</cite></span>

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<li id="cite_note-6"><span class="mw-cite-backlink"><b><a href="#cite_ref-6">^</a></b></span> <span class="reference-text"><cite class="citation web cs1"><a rel="nofollow" class="external text" href="https://www.theverge.com/2018/1/30/16949550/bitcoin-graphics-cards-pc-prices-surge">"Bitcoin mania is hurting PC gamers by pushing up GPU prices"</a>. 30 January 2018. <a rel="nofollow" class="external text" href="https://web.archive.org/web/20180202070911/https://www.theverge.com/2018/1/30/16949550/bitcoin-graphics-cards-pc-prices-surge">Archived</a> from the original on 2 February 2018<span class="reference-accessdate">. Retrieved <span class="nowrap">2 February</span> 2018</span>.</cite></span>

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<li id="cite_note-worldoil-7"><span class="mw-cite-backlink"><b><a href="#cite_ref-worldoil_7-0">^</a></b></span> <span class="reference-text"><cite class="citation web cs1"><a rel="nofollow" class="external text" href="http://www.worldoil.com/news/2018/1/26/cryptocurrency-mining-operation-launched-by-iron-bridge-resources">"Cryptocurrency mining operation launched by Iron Bridge Resources"</a>. <i>World Oil</i>. 26 January 2018. <a rel="nofollow" class="external text" href="https://web.archive.org/web/20180130091353/http://www.worldoil.com/news/2018/1/26/cryptocurrency-mining-operation-launched-by-iron-bridge-resources">Archived</a> from the original on 30 January 2018.</cite></span>

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<li id="cite_note-8"><span class="mw-cite-backlink"><b><a href="#cite_ref-8">^</a></b></span> <span class="reference-text"><cite class="citation news cs1"><a rel="nofollow" class="external text" href="http://www.taipeitimes.com/News/biz/archives/2014/01/04/2003580449">"Bitcoin boom benefiting TSMC: report"</a>. <i>Taipei Times</i>. 4 January 2014.</cite></span>

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<li id="cite_note-9"><span class="mw-cite-backlink"><b><a href="#cite_ref-9">^</a></b></span> <span class="reference-text"><cite id="CITEREFRosenfeld2011" class="citation book cs1">Rosenfeld, Meni (17 November 2011). <i>Analysis of Bitcoin Pooled Mining Reward Systems</i>. <a href="ArXiv_(identifier)" class="mw-redirect" title="ArXiv (identifier)">arXiv</a>:<span class="id-lock-free" title="Freely accessible"><a rel="nofollow" class="external text" href="https://arxiv.org/abs/1112.4980">1112.4980</a></span>. <a href="Bibcode_(identifier)" class="mw-redirect" title="Bibcode (identifier)">Bibcode</a>:<a rel="nofollow" class="external text" href="https://ui.adsabs.harvard.edu/abs/2011arXiv1112.4980R">2011arXiv1112.4980R</a>.</cite></span>

</li>

<li id="cite_note-Environmental_impact_of_bitcoin_NYT20220116-10"><span class="mw-cite-backlink"><b><a href="#cite_ref-Environmental_impact_of_bitcoin_NYT20220116_10-0">^</a></b></span> <span class="reference-text"><cite id="CITEREFHuangO'NeillTabuchi2021" class="citation news cs1"><a href="Hiroko_Tabuchi" title="Hiroko Tabuchi">Huang, Jon</a>; O'Neill, Claire; Tabuchi, Hiroko (3 September 2021). <a rel="nofollow" class="external text" href="https://www.nytimes.com/interactive/2021/09/03/climate/bitcoin-carbon-footprint-electricity.html">"Bitcoin Uses More Electricity Than Many Countries. How Is That Possible?"</a>. <i><a href="The_New_York_Times" title="The New York Times">The New York Times</a></i>. <a href="ISSN_(identifier)" class="mw-redirect" title="ISSN (identifier)">ISSN</a> <a rel="nofollow" class="external text" href="https://search.worldcat.org/issn/0362-4331">0362-4331</a>. <a rel="nofollow" class="external text" href="https://web.archive.org/web/20230217105559/https://www.nytimes.com/interactive/2021/09/03/climate/bitcoin-carbon-footprint-electricity.html">Archived</a> from the original on 17 February 2023<span class="reference-accessdate">. Retrieved <span class="nowrap">1 February</span> 2022</span>.</cite></span>

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<li id="cite_note-Environmental_impact_of_bitcoin_CCAF2025-11"><span class="mw-cite-backlink"><b><a href="#cite_ref-Environmental_impact_of_bitcoin_CCAF2025_11-0">^</a></b></span> <span class="reference-text"><cite class="citation web cs1"><a rel="nofollow" class="external text" href="https://www.jbs.cam.ac.uk/faculty-research/centres/alternative-finance/publications/cambridge-digital-mining-industry-report/">"Cambridge Digital Mining Industry Report: Global Operations, Sentiment, and Energy Use - CCAF publications"</a>. <i>Cambridge Judge Business School</i><span class="reference-accessdate">. Retrieved <span class="nowrap">29 April</span> 2025</span>.</cite></span>

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<li id="cite_note-Environmental_impact_of_bitcoin_deVries2021-12"><span class="mw-cite-backlink"><b><a href="#cite_ref-Environmental_impact_of_bitcoin_deVries2021_12-0">^</a></b></span> <span class="reference-text"><cite id="CITEREFde_VriesStoll2021" class="citation journal cs1">de Vries, Alex; Stoll, Christian (December 2021). <span class="id-lock-subscription" title="Paid subscription required"><a rel="nofollow" class="external text" href="https://www.sciencedirect.com/science/article/pii/S0921344921005103">"Bitcoin's growing e-waste problem"</a></span>. <i>Resources, Conservation and Recycling</i>. <b>175</b>: 105901. <a href="Bibcode_(identifier)" class="mw-redirect" title="Bibcode (identifier)">Bibcode</a>:<a rel="nofollow" class="external text" href="https://ui.adsabs.harvard.edu/abs/2021RCR...17505901D">2021RCR...17505901D</a>. <a href="Doi_(identifier)" class="mw-redirect" title="Doi (identifier)">doi</a>:<a rel="nofollow" class="external text" href="https://doi.org/10.1016%2Fj.resconrec.2021.105901">10.1016/j.resconrec.2021.105901</a>. <a href="ISSN_(identifier)" class="mw-redirect" title="ISSN (identifier)">ISSN</a> <a rel="nofollow" class="external text" href="https://search.worldcat.org/issn/0921-3449">0921-3449</a>. <a href="S2CID_(identifier)" class="mw-redirect" title="S2CID (identifier)">S2CID</a> <a rel="nofollow" class="external text" href="https://api.semanticscholar.org/CorpusID:240585651">240585651</a>. <a rel="nofollow" class="external text" href="https://web.archive.org/web/20211123145025/https://www.sciencedirect.com/science/article/abs/pii/S0921344921005103">Archived</a> from the original on 23 November 2021<span class="reference-accessdate">. Retrieved <span class="nowrap">6 October</span> 2022</span>.</cite></span>

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<li id="cite_note-Environmental_impact_of_bitcoin_You2023-13"><span class="mw-cite-backlink"><b><a href="#cite_ref-Environmental_impact_of_bitcoin_You2023_13-0">^</a></b></span> <span class="reference-text"><cite id="CITEREFLalZhuYou2023" class="citation journal cs1">Lal, Apoorv; Zhu, Jesse; <a href="Fengqi_You" title="Fengqi You">You, Fengqi</a> (13 November 2023). <span class="id-lock-subscription" title="Paid subscription required"><a rel="nofollow" class="external text" href="https://pubs.acs.org/doi/10.1021/acssuschemeng.3c05445">"From Mining to Mitigation: How Bitcoin Can Support Renewable Energy Development and Climate Action"</a></span>. <i><a href="ACS_Sustainable_Chemistry_%26_Engineering" title="ACS Sustainable Chemistry & Engineering">ACS Sustainable Chemistry & Engineering</a></i>. <b>11</b> (45): <span class="nowrap">16330–</span>16340. <a href="Doi_(identifier)" class="mw-redirect" title="Doi (identifier)">doi</a>:<a rel="nofollow" class="external text" href="https://doi.org/10.1021%2Facssuschemeng.3c05445">10.1021/acssuschemeng.3c05445</a>. <a href="ISSN_(identifier)" class="mw-redirect" title="ISSN (identifier)">ISSN</a> <a rel="nofollow" class="external text" href="https://search.worldcat.org/issn/2168-0485">2168-0485</a>. <a href="S2CID_(identifier)" class="mw-redirect" title="S2CID (identifier)">S2CID</a> <a rel="nofollow" class="external text" href="https://api.semanticscholar.org/CorpusID:264574360">264574360</a>. <a rel="nofollow" class="external text" href="https://web.archive.org/web/20231123134015/https://pubs.acs.org/doi/10.1021/acssuschemeng.3c05445">Archived</a> from the original on 23 November 2023<span class="reference-accessdate">. Retrieved <span class="nowrap">23 November</span> 2023</span>.</cite></span>

</li>

<li id="cite_note-Environmental_impact_of_bitcoin_Stoll2023-14"><span class="mw-cite-backlink"><b><a href="#cite_ref-Environmental_impact_of_bitcoin_Stoll2023_14-0">^</a></b></span> <span class="reference-text"><cite id="CITEREFStollKlaaßenGallersdörferNeumüller2023" class="citation report cs1">Stoll, Christian; Klaaßen, Lena; Gallersdörfer, Ulrich; Neumüller, Alexander (June 2023). <a rel="nofollow" class="external text" href="https://www.jstor.org/stable/resrep51839">Climate Impacts of Bitcoin Mining in the U.S.</a> (Report). Working Paper Series. MIT Center for Energy and Environmental Policy Research. <a rel="nofollow" class="external text" href="https://web.archive.org/web/20231118132421/https://www.jstor.org/stable/resrep51839">Archived</a> from the original on 18 November 2023<span class="reference-accessdate">. Retrieved <span class="nowrap">18 November</span> 2023</span>.</cite></span>

</li>

<li id="cite_note-15"><span class="mw-cite-backlink"><b><a href="#cite_ref-15">^</a></b></span> <span class="reference-text"><cite id="CITEREFMacheel2024" class="citation web cs1">Macheel, Tanaya (20 April 2024). <a rel="nofollow" class="external text" href="https://www.cnbc.com/2024/04/19/bitcoin-network-completes-fourth-ever-halving-of-rewards-to-miners.html">"The Bitcoin network completes the fourth-ever 'halving' of rewards to miners"</a>. <i>CNBC</i><span class="reference-accessdate">. Retrieved <span class="nowrap">20 April</span> 2024</span>.</cite></span>

</li>

<li id="cite_note-16"><span class="mw-cite-backlink"><b><a href="#cite_ref-16">^</a></b></span> <span class="reference-text"><cite class="citation web cs1"><a rel="nofollow" class="external text" href="https://www.investopedia.com/bitcoin-halving-2024-what-next-8636072">"So, Bitcoin Halving Is Done. What Happened and What's Next?"</a>. <i>Investopedia</i><span class="reference-accessdate">. Retrieved <span class="nowrap">20 April</span> 2024</span>.</cite></span>

</li>

<li id="cite_note-17"><span class="mw-cite-backlink"><b><a href="#cite_ref-17">^</a></b></span> <span class="reference-text"><cite class="citation web cs1"><a rel="nofollow" class="external text" href="https://coinpedia.org/beginners-guide/what-is-bitcoin-halving/">"Bitcoin Halving 2024: Why It Matters & What to Expect"</a>. 6 June 2023.</cite></span>

</li>

<li id="cite_note-18"><span class="mw-cite-backlink"><b><a href="#cite_ref-18">^</a></b></span> <span class="reference-text"><cite class="citation web cs1"><a rel="nofollow" class="external text" href="https://markets.businessinsider.com/news/currencies/bitcoin-halving-event-cryptocurrency-new-all-time-high-halvening-explained-2024-3">"Bitcoin is about to undergo another 'halving' event. Here's why that could send its price soaring"</a>.</cite></span>

</li>

<cite id="CITEREFAntonopoulos2017" class="citation book cs1">Antonopoulos, Andreas M (1 July 2017). <i>Mastering bitcoin: programming the open blockchain</i> (2nd ed.). Sebastopol, California, USA: O'Reilly Media. p. 239. <a href="ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <bdi>978-1-4919-5438-6</bdi>. <a href="OCLC_(identifier)" class="mw-redirect" title="OCLC (identifier)">OCLC</a> <a rel="nofollow" class="external text" href="https://search.worldcat.org/oclc/953432201">953432201</a>.</cite></span>

</li>

<li id="cite_note-bmg-20"><span class="mw-cite-backlink">^ <a href="#cite_ref-bmg_20-0"><sup><i><b>a</b></i></sup></a> <a href="#cite_ref-bmg_20-1"><sup><i><b>b</b></i></sup></a></span> <span class="reference-text"><cite id="CITEREFHouy2016" class="citation journal cs1">Houy, N. (2016). <a rel="nofollow" class="external text" href="http://www.ledgerjournal.org/ojs/index.php/ledger/article/view/13/59">"The Bitcoin Mining Game"</a>. <i>Ledger</i>. <b>1</b>: <span class="nowrap">53–</span>68. <a href="Doi_(identifier)" class="mw-redirect" title="Doi (identifier)">doi</a>:<span class="id-lock-free" title="Freely accessible"><a rel="nofollow" class="external text" href="https://doi.org/10.5195%2Fledger.2016.13">10.5195/ledger.2016.13</a></span><span class="reference-accessdate">. Retrieved <span class="nowrap">14 January</span> 2017</span>.</cite></span>

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<li id="cite_note-quantitative-21"><span class="mw-cite-backlink">^ <a href="#cite_ref-quantitative_21-0"><sup><i><b>a</b></i></sup></a> <a href="#cite_ref-quantitative_21-1"><sup><i><b>b</b></i></sup></a></span> <span class="reference-text"><cite id="CITEREFRon_DoritAdi_Shamir2012" class="citation web cs1">Ron Dorit; Adi Shamir (2012). <a rel="nofollow" class="external text" href="http://eprint.iacr.org/2012/584.pdf">"Quantitative Analysis of the Full Bitcoin Transaction Graph"</a> <span class="cs1-format">(PDF)</span>. Cryptology ePrint Archive<span class="reference-accessdate">. Retrieved <span class="nowrap">18 October</span> 2012</span>.</cite></span>

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<li id="cite_note-primer-22"><span class="mw-cite-backlink">^ <a href="#cite_ref-primer_22-0"><sup><i><b>a</b></i></sup></a> <a href="#cite_ref-primer_22-1"><sup><i><b>b</b></i></sup></a> <a href="#cite_ref-primer_22-2"><sup><i><b>c</b></i></sup></a></span> <span class="reference-text"><cite id="CITEREFJerry_BritoAndrea_Castillo2013" class="citation web cs1">Jerry Brito & Andrea Castillo (2013). <a rel="nofollow" class="external text" href="https://web.archive.org/web/20130921060724/http://mercatus.org/sites/default/files/Brito_BitcoinPrimer.pdf">"Bitcoin: A Primer for Policymakers"</a> <span class="cs1-format">(PDF)</span>. <i>Mercatus Center</i>. George Mason University. Archived from <a rel="nofollow" class="external text" href="http://mercatus.org/sites/default/files/Brito_BitcoinPrimer.pdf">the original</a> <span class="cs1-format">(PDF)</span> on 21 September 2013<span class="reference-accessdate">. Retrieved <span class="nowrap">22 October</span> 2013</span>.</cite></span>

</li>

<li id="cite_note-cornell4220-23"><span class="mw-cite-backlink"><b><a href="#cite_ref-cornell4220_23-0">^</a></b></span> <span class="reference-text"><cite id="CITEREFErik_Bonadonna2013" class="citation web cs1">Erik Bonadonna (29 March 2013). <a rel="nofollow" class="external text" href="http://blogs.cornell.edu/info4220/2013/03/29/bitcoin-and-the-double-spending-problem/">"Bitcoin and the Double-spending Problem"</a>. Cornell University<span class="reference-accessdate">. Retrieved <span class="nowrap">22 October</span> 2014</span>.</cite></span>

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<li id="cite_note-24"><span class="mw-cite-backlink"><b><a href="#cite_ref-24">^</a></b></span> <span class="reference-text"><cite id="CITEREFKarameAndroulakiCapkun2012" class="citation journal cs1">Karame, Ghassan O.; Androulaki, Elli; Capkun, Srdjan (2012). <a rel="nofollow" class="external text" href="http://eprint.iacr.org/2012/248.pdf">"Two Bitcoins at the Price of One? Double-Spending Attacks on Fast Payments in Bitcoin"</a> <span class="cs1-format">(PDF)</span>. <i>iacr.org</i>. International Association for Cryptologic Research<span class="reference-accessdate">. Retrieved <span class="nowrap">22 October</span> 2014</span>.</cite></span>

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<li id="cite_note-51%-25"><span class="mw-cite-backlink"><b><a href="#cite_ref-51%_25-0">^</a></b></span> <span class="reference-text"><cite id="CITEREFMichael_J._CaseyPaul_Vigna2014" class="citation news cs1">Michael J. Casey; Paul Vigna (16 June 2014). <a rel="nofollow" class="external text" href="https://blogs.wsj.com/moneybeat/2014/06/16/bitbeat-a-51-attack-what-is-it-and-could-it-happen/">"Short-Term Fixes To Avert "51% Attack""</a>. <i>Money Beat</i>. Wall Street Journal<span class="reference-accessdate">. Retrieved <span class="nowrap">30 June</span> 2014</span>.</cite></span>

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<li id="cite_note-26"><span class="mw-cite-backlink"><b><a href="#cite_ref-26">^</a></b></span> <span class="reference-text"><cite id="CITEREFBar-ZurAbu-HannaEyalTamar2023" class="citation book cs1">Bar-Zur, Roi; Abu-Hanna, Ameer; Eyal, Ittay; Tamar, Aviv (2023). <a rel="nofollow" class="external text" href="https://doi.ieeecomputersociety.org/10.1109/SP46215.2023.00016"><i>2023 IEEE Symposium on Security and Privacy (SP)</i></a>. IEEE Computer Society. <a href="Doi_(identifier)" class="mw-redirect" title="Doi (identifier)">doi</a>:<a rel="nofollow" class="external text" href="https://doi.org/10.1109%2FSP46215.2023">10.1109/SP46215.2023</a>. <a href="ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <bdi>978-1-6654-9336-9</bdi><span class="reference-accessdate">. Retrieved <span class="nowrap">15 May</span> 2023</span>.</cite></span>

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<li id="cite_note-27"><span class="mw-cite-backlink"><b><a href="#cite_ref-27">^</a></b></span> <span class="reference-text">[The Limits to Blockchain? Scaling vs. Decentralization.] Social Science Research Network. <i>Cybersecurity, Privacy & Networks eJournal.</i> Accessed 21 April 2019.</span>

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<li id="cite_note-Bitcoin_scalability_problem_onscaling-28"><span class="mw-cite-backlink">^ <a href="#cite_ref-Bitcoin_scalability_problem_onscaling_28-0"><sup><i><b>a</b></i></sup></a> <a href="#cite_ref-Bitcoin_scalability_problem_onscaling_28-1"><sup><i><b>b</b></i></sup></a></span> <span class="reference-text"><cite id="CITEREFCromanEyal2016" class="citation book cs1">Croman, Kyle; Eyal, Ittay (2016). <a rel="nofollow" class="external text" href="http://www.comp.nus.edu.sg/~prateeks/papers/Bitcoin-scaling.pdf">"On Scaling Decentralized Blockchains"</a> <span class="cs1-format">(PDF)</span>. <i>Financial Cryptography and Data Security</i>. Lecture Notes in Computer Science. Vol. 9604. pp. <span class="nowrap">106–</span>125. <a href="Doi_(identifier)" class="mw-redirect" title="Doi (identifier)">doi</a>:<a rel="nofollow" class="external text" href="https://doi.org/10.1007%2F978-3-662-53357-4_8">10.1007/978-3-662-53357-4_8</a>. <a href="ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <bdi>978-3-662-53356-7</bdi><span class="reference-accessdate">. Retrieved <span class="nowrap">10 December</span> 2017</span>. <q>The maximum throughput is the maximum rate at which the blockchain can confirm transactions. Today, bitcoin's maximum throughput is 3.3–7 transactions/sec [1]. This number is constrained by the maximum block size and the inter-block time.</q></cite></span>

</li>

<li id="cite_note-Bitcoin_scalability_problem_mastering-29"><span class="mw-cite-backlink"><b><a href="#cite_ref-Bitcoin_scalability_problem_mastering_29-0">^</a></b></span> <span class="reference-text"><cite id="CITEREFAntonopoulos2014" class="citation book cs1">Antonopoulos, Andreas M. (April 2014). <i>Mastering Bitcoin. Unlocking Digital Crypto-Currencies</i>. O'Reilly Media. <a href="ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <bdi>978-1-4493-7404-4</bdi>.</cite></span>

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<li id="cite_note-reid-30"><span class="mw-cite-backlink"><b><a href="#cite_ref-reid_30-0">^</a></b></span> <span class="reference-text"><cite id="CITEREFReidHarrigan2013" class="citation book cs1">Reid, Fergal; Harrigan, Martin (2013). "An Analysis of Anonymity in the Bitcoin System". <i>Security and Privacy in Social Networks</i>. New York, NY. pp. <span class="nowrap">197–</span>223. <a href="ArXiv_(identifier)" class="mw-redirect" title="ArXiv (identifier)">arXiv</a>:<span class="id-lock-free" title="Freely accessible"><a rel="nofollow" class="external text" href="https://arxiv.org/abs/1107.4524">1107.4524</a></span>. <a href="Doi_(identifier)" class="mw-redirect" title="Doi (identifier)">doi</a>:<a rel="nofollow" class="external text" href="https://doi.org/10.1007%2F978-1-4614-4139-7_10">10.1007/978-1-4614-4139-7_10</a>. <a href="ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <bdi>978-1-4614-4138-0</bdi>.</cite><span class="cs1-maint citation-comment"><code class="cs1-code">{{cite book}}</code>: CS1 maint: location missing publisher (link)</span></span>

</li>

<li id="cite_note-dep2p-31"><span class="mw-cite-backlink">^ <a href="#cite_ref-dep2p_31-0"><sup><i><b>a</b></i></sup></a> <a href="#cite_ref-dep2p_31-1"><sup><i><b>b</b></i></sup></a></span> <span class="reference-text"><cite id="CITEREFBiryukovKhovratovichPustogarov2014" class="citation journal cs1">Biryukov, Alex; Khovratovich, Dmitry; Pustogarov, Ivan (2014). <a rel="nofollow" class="external text" href="https://web.archive.org/web/20170522151641/http://orbilu.uni.lu/handle/10993/18679">"Deanonymisation of clients in Bitcoin P2P network"</a>. <i>ACM Conference on Computer and Communications Security</i>. <a href="ArXiv_(identifier)" class="mw-redirect" title="ArXiv (identifier)">arXiv</a>:<span class="id-lock-free" title="Freely accessible"><a rel="nofollow" class="external text" href="https://arxiv.org/abs/1405.7418">1405.7418</a></span>. <a href="Bibcode_(identifier)" class="mw-redirect" title="Bibcode (identifier)">Bibcode</a>:<a rel="nofollow" class="external text" href="https://ui.adsabs.harvard.edu/abs/2014arXiv1405.7418B">2014arXiv1405.7418B</a>. <a href="ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <bdi>9781450329576</bdi>. Archived from <a rel="nofollow" class="external text" href="http://orbilu.uni.lu/handle/10993/18679">the original</a> on 22 May 2017<span class="reference-accessdate">. Retrieved <span class="nowrap">16 May</span> 2017</span>.</cite></span>

</li>

</ol></div>

<div class="mw-heading mw-heading3"><h3 id="Works_cited">Works cited</h3></div>

<ul><li><cite id="CITEREFde_VriesGallersdörferKlaaßenStoll2022" class="citation journal cs1">de Vries, Alex; Gallersdörfer, Ulrich; Klaaßen, Lena; Stoll, Christian (16 March 2022). <a rel="nofollow" class="external text" href="https://doi.org/10.1016%2Fj.joule.2022.02.005">"Revisiting Bitcoin's carbon footprint"</a>. <i><a href="Joule_(journal)" title="Joule (journal)">Joule</a></i>. <b>6</b> (3): <span class="nowrap">498–</span>502. <a href="Bibcode_(identifier)" class="mw-redirect" title="Bibcode (identifier)">Bibcode</a>:<a rel="nofollow" class="external text" href="https://ui.adsabs.harvard.edu/abs/2022Joule...6..498D">2022Joule...6..498D</a>. <a href="Doi_(identifier)" class="mw-redirect" title="Doi (identifier)">doi</a>:<span class="id-lock-free" title="Freely accessible"><a rel="nofollow" class="external text" href="https://doi.org/10.1016%2Fj.joule.2022.02.005">10.1016/j.joule.2022.02.005</a></span>. <a href="ISSN_(identifier)" class="mw-redirect" title="ISSN (identifier)">ISSN</a> <a rel="nofollow" class="external text" href="https://search.worldcat.org/issn/2542-4351">2542-4351</a>. <a href="S2CID_(identifier)" class="mw-redirect" title="S2CID (identifier)">S2CID</a> <a rel="nofollow" class="external text" href="https://api.semanticscholar.org/CorpusID:247143939">247143939</a>.</cite></li></ul>

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</style><div id="Bitcoin604" style="font-size:114%;margin:0 4em"><a href="Bitcoin" title="Bitcoin">Bitcoin</a></div></th></tr><tr><td class="navbox-abovebelow" colspan="2"><div>

<ul><li><a href="History_of_bitcoin" title="History of bitcoin">History</a></li>

<li><a href="Economics_of_bitcoin" title="Economics of bitcoin">Economics</a></li>

<li><a href="Bitcoin_and_politics" title="Bitcoin and politics">Politics</a></li>

<li><a href="Legality_of_bitcoin_by_country_or_territory" class="mw-redirect" title="Legality of bitcoin by country or territory">Legal status</a></li>

<li><a href="Environmental_effects_of_bitcoin" class="mw-redirect" title="Environmental effects of bitcoin">Environmental effects</a></li></ul>

</div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">People</th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em">

<ul><li><a href="Gavin_Andresen" title="Gavin Andresen">Gavin Andresen</a></li>

<li><a href="Andreas_Antonopoulos" title="Andreas Antonopoulos">Andreas Antonopoulos</a></li>

<li><a href="Brian_Armstrong_(CEO)" class="mw-redirect" title="Brian Armstrong (CEO)">Brian Armstrong</a></li>

<li><a href="Wences_Casares" title="Wences Casares">Wences Casares</a></li>

<li><a href="Tim_Draper" title="Tim Draper">Tim Draper</a></li>

<li><a href="Hal_Finney_(computer_scientist)" title="Hal Finney (computer scientist)">Hal Finney</a></li>

<li><a href="Mark_Karpel%C3%A8s" title="Mark Karpelès">Mark Karpelès</a></li>

<li><a href="Satoshi_Nakamoto" title="Satoshi Nakamoto">Satoshi Nakamoto</a></li>

<li><a href="Charlie_Shrem" title="Charlie Shrem">Charlie Shrem</a></li>

<li><a href="Nick_Szabo" title="Nick Szabo">Nick Szabo</a></li>

<li><a href="Vitalik_Buterin" title="Vitalik Buterin">Vitalik Buterin</a></li>

<li><a href="Ross_Ulbricht" title="Ross Ulbricht">Ross Ulbricht</a></li>

<li><a href="Roger_Ver" title="Roger Ver">Roger Ver</a></li>

<li><a href="Cody_Wilson" title="Cody Wilson">Cody Wilson</a></li>

<li><a href="Cameron_Winklevoss" title="Cameron Winklevoss">Cameron Winklevoss</a></li>

<li><a href="Tyler_Winklevoss" title="Tyler Winklevoss">Tyler Winklevoss</a></li>

<li><a href="Craig_Steven_Wright" title="Craig Steven Wright">Craig Wright</a></li>

<li><a href="Dave_Kleiman" title="Dave Kleiman">Dave Kleiman</a></li>

<li><a href="Jihan_Wu" title="Jihan Wu">Jihan Wu</a></li>

<li><a href="Erik_Voorhees" title="Erik Voorhees">Erik Voorhees</a></li></ul>

</div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">Lists</th><td class="navbox-list-with-group navbox-list navbox-even" style="width:100%;padding:0"><div style="padding:0 0.25em">

<ul><li><a href="List_of_bitcoin_companies" title="List of bitcoin companies">List of bitcoin companies</a></li>

<li><a href="List_of_bitcoin_forks" title="List of bitcoin forks">List of bitcoin forks</a></li>

<li><a href="List_of_bitcoin_organizations" title="List of bitcoin organizations">List of bitcoin organizations</a></li>

<li><a href="List_of_people_in_blockchain_technology" title="List of people in blockchain technology">List of people in blockchain technology</a></li></ul>

</div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">Technologies</th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em">

<ul><li><a href="Bitcoin_network" class="mw-redirect" title="Bitcoin network">Bitcoin network</a></li>

<li><a href="Blockchain" title="Blockchain">Blockchain</a></li>

<li><a href="Cryptocurrency" title="Cryptocurrency">Cryptocurrency</a></li>

<li><a href="Cryptocurrency_wallet" title="Cryptocurrency wallet">Cryptocurrency wallet</a></li>

<li><a href="Bitcoin_ATM" title="Bitcoin ATM">Bitcoin ATM</a></li>

<li><a href="Elliptic_Curve_Digital_Signature_Algorithm" title="Elliptic Curve Digital Signature Algorithm">ECDSA</a></li>

<li><a href="Lightning_Network" title="Lightning Network">Lightning Network</a></li>

<li><a href="Proof_of_work" title="Proof of work">Proof of work</a></li>

<li><a href="SegWit" title="SegWit">SegWit</a></li>

</div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="List_of_bitcoin_forks" title="List of bitcoin forks">Forks</a></th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"></div><table class="nowraplinks navbox-subgroup" style="border-spacing:0"><tbody><tr><th scope="row" class="navbox-group" style="width:1%">Client</th><td class="navbox-list-with-group navbox-list navbox-even" style="width:100%;padding:0"><div style="padding:0 0.25em">

<ul><li><a href="Bitcoin_Unlimited" title="Bitcoin Unlimited">Bitcoin Unlimited</a></li></ul>

</div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">Currency</th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em">

<ul><li><a href="Bitcoin_Cash" title="Bitcoin Cash">Bitcoin Cash</a></li>

<li><a href="Bitcoin_Gold" title="Bitcoin Gold">Bitcoin Gold</a></li></ul>

</div></td></tr></tbody></table><div></div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">History</th><td class="navbox-list-with-group navbox-list navbox-even" style="width:100%;padding:0"><div style="padding:0 0.25em">

<ul><li><a href="Bitcoin_scalability_problem" title="Bitcoin scalability problem">Bitcoin scalability problem</a></li>

<li><a href="History_of_bitcoin" title="History of bitcoin">History of bitcoin</a></li>

<li><a href="Bitcoin_buried_in_Newport_landfill" title="Bitcoin buried in Newport landfill">2013 Bitcoin buried in Newport landfill</a></li>

<li><a href="Cryptocurrency_bubble" title="Cryptocurrency bubble">2018 cryptocurrency crash</a></li>

<li><a href="2018_Bitcoin_bomb_threats" title="2018 Bitcoin bomb threats">2018 Bitcoin bomb threats</a></li>

<li><a href="2020_Twitter_account_hijacking" title="2020 Twitter account hijacking">2020 Twitter account hijacking</a></li></ul>

</div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">Movies</th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em">

<ul><li><i><a href="The_Rise_and_Rise_of_Bitcoin" title="The Rise and Rise of Bitcoin">The Rise and Rise of Bitcoin</a></i> (2014 film)</li>

</div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">Legal entities<br><small>(not exchanges)</small></th><td class="navbox-list-with-group navbox-list navbox-even" style="width:100%;padding:0"><div style="padding:0 0.25em">

<ul><li><a href="Bitcoin_Foundation" title="Bitcoin Foundation">Bitcoin Foundation</a></li>

<li><i><a href="Bitcoin_Magazine" title="Bitcoin Magazine">Bitcoin Magazine</a></i></li>

<li><a href="BitGo" title="BitGo">BitGo</a></li>

<li><a href="Bitmain" title="Bitmain">Bitmain</a></li>

<li><a href="Canaan_Creative" title="Canaan Creative">Canaan Creative</a></li>

<li><a href="CoinDesk" title="CoinDesk">CoinDesk</a></li>

<li><a href="GHash.io" title="GHash.io">GHash.io</a></li>

<li><a href="MicroStrategy" title="MicroStrategy">Strategy</a></li></ul>

</div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="Bitcoin_in_El_Salvador" title="Bitcoin in El Salvador">Bitcoin in El Salvador</a></th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em">

<ul><li><a href="Bitcoin_Law" title="Bitcoin Law">Bitcoin Law</a></li>

<li><a href="El_Zonte" title="El Zonte">Bitcoin Beach</a></li>

<li><a href="Bitcoin_City" title="Bitcoin City">Bitcoin City</a></li></ul>

</div></td></tr><tr><td class="navbox-abovebelow hlist" colspan="2"><div>

<ul><li><span class="noviewer" typeof="mw:File"><span title="Category"></span></span> Category</li>

<li><span class="noviewer" typeof="mw:File"><span title="Commons page"></span></span> <a href="https://commons.wikimedia.org/wiki/Category:Bitcoin" class="extiw external" title="commons:Category:Bitcoin">Commons</a></li></ul>

</div></td></tr></tbody></table></div>

<div class="navbox-styles"></div><div role="navigation" class="navbox" aria-labelledby="Cryptocurrencies710" style="padding:3px"><table class="nowraplinks hlist mw-collapsible mw-collapsed navbox-inner" style="border-spacing:0;background:transparent;color:inherit"><tbody><tr><th scope="col" class="navbox-title" colspan="2"><div id="Cryptocurrencies710" style="font-size:114%;margin:0 4em"><a href="Cryptocurrency" title="Cryptocurrency">Cryptocurrencies</a></div></th></tr><tr><th scope="row" class="navbox-group" style="width:1%">Technology</th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em">

<ul><li><a href="Blockchain" title="Blockchain">Blockchain</a></li>

<li><a href="Cryptocurrency_tumbler" title="Cryptocurrency tumbler">Cryptocurrency tumbler</a></li>

<li><a href="Cryptocurrency_wallet" title="Cryptocurrency wallet">Cryptocurrency wallet</a></li>

<li><a href="Cryptographic_hash_function" title="Cryptographic hash function">Cryptographic hash function</a></li>

<li><a href="Decentralized_finance#Decentralized_exchanges" title="Decentralized finance">Decentralized exchange</a></li>

<li><a href="Decentralized_finance" title="Decentralized finance">Decentralized finance</a></li>

<li><a href="Distributed_ledger" title="Distributed ledger">Distributed ledger</a></li>

<li><a href="Lightning_Network" title="Lightning Network">Lightning Network</a></li>

<li><a href="MetaMask" title="MetaMask">MetaMask</a></li>

<li><a href="Smart_contract" title="Smart contract">Smart contract</a></li>

</div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="Consensus_(computer_science)" title="Consensus (computer science)">Consensus</a> mechanisms</th><td class="navbox-list-with-group navbox-list navbox-even" style="width:100%;padding:0"><div style="padding:0 0.25em">

<ul><li><a href="Proof_of_authority" title="Proof of authority">Proof of authority</a></li>

<li><a href="Proof_of_space" title="Proof of space">Proof of space</a></li>

<li><a href="Proof_of_stake" title="Proof of stake">Proof of stake</a></li>

<li><a href="Proof_of_work" title="Proof of work">Proof of work</a></li></ul>

</div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="Proof_of_work" title="Proof of work">Proof of work</a> currencies</th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"></div><table class="nowraplinks navbox-subgroup" style="border-spacing:0"><tbody><tr><th scope="row" class="navbox-group" style="width:1%"><a href="SHA-2" title="SHA-2">SHA-256</a>-based</th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em">

<ul><li><a href="Bitcoin" title="Bitcoin">Bitcoin</a></li>

<li><a href="Bitcoin_Cash" title="Bitcoin Cash">Bitcoin Cash</a></li>

<li><a href="Counterparty_(platform)" title="Counterparty (platform)">Counterparty</a></li>

<li><a href="MazaCoin" title="MazaCoin">MazaCoin</a></li>

<li><a href="Namecoin" title="Namecoin">Namecoin</a></li>

<li><a href="Peercoin" title="Peercoin">Peercoin</a></li>

<li><a href="Titcoin" title="Titcoin">Titcoin</a></li></ul>

</div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="Ethereum" title="Ethereum">Ethash</a>-based</th><td class="navbox-list-with-group navbox-list navbox-even" style="width:100%;padding:0"><div style="padding:0 0.25em">

<ul><li><a href="Ethereum" title="Ethereum">Ethereum</a> (1.0)</li>

<li><a href="Ethereum_Classic" title="Ethereum Classic">Ethereum Classic</a></li></ul>

</div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="Scrypt" title="Scrypt">Scrypt</a>-based</th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em">

<ul><li><a href="Auroracoin" title="Auroracoin">Auroracoin</a></li>

<li><a href="Bitconnect" title="Bitconnect">Bitconnect</a></li>

<li><a href="Coinye" title="Coinye">Coinye</a></li>

<li><a href="Dogecoin" title="Dogecoin">Dogecoin</a></li>

<li><a href="Litecoin" title="Litecoin">Litecoin</a></li></ul>

</div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="Equihash" title="Equihash">Equihash</a>-based</th><td class="navbox-list-with-group navbox-list navbox-even" style="width:100%;padding:0"><div style="padding:0 0.25em">

<ul><li><a href="Bitcoin_Gold" title="Bitcoin Gold">Bitcoin Gold</a></li>

<li><a href="Zcash" title="Zcash">Zcash</a></li></ul>

</div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">RandomX-based</th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em">

<ul><li><a href="Monero" title="Monero">Monero</a></li></ul>

</div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="Dash_(cryptocurrency)#X11" title="Dash (cryptocurrency)">X11</a>-based</th><td class="navbox-list-with-group navbox-list navbox-even" style="width:100%;padding:0"><div style="padding:0 0.25em">

<li><a href="Petro_(token)" title="Petro (token)">Petro</a></li></ul>

</div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">Other</th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em">

<ul><li><a href="AmbaCoin" title="AmbaCoin">AmbaCoin</a></li>

<li><a href="Nervos_Network" title="Nervos Network">Nervos Network</a></li>

<li><a href="Primecoin" title="Primecoin">Primecoin</a></li>

<li><a href="Verge_(cryptocurrency)" title="Verge (cryptocurrency)">Verge</a></li>

<li><a href="Vertcoin" title="Vertcoin">Vertcoin</a></li></ul>

</div></td></tr></tbody></table><div></div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="Proof_of_stake" title="Proof of stake">Proof of stake</a> currencies</th><td class="navbox-list-with-group navbox-list navbox-even" style="width:100%;padding:0"><div style="padding:0 0.25em">

<ul><li><a href="Algorand" title="Algorand">Algorand</a></li>

<li><a href="Avalanche_(blockchain_platform)" title="Avalanche (blockchain platform)">Avalanche</a></li>

<li><a href="Cardano_(blockchain_platform)" title="Cardano (blockchain platform)">Cardano</a></li>

<li><a href="Ethereum" title="Ethereum">Ethereum</a> (2.0)</li>

<li><a href="Gridcoin" title="Gridcoin">Gridcoin</a></li>

<li><a href="Injective_(blockchain)" title="Injective (blockchain)">Injective</a></li>

<li><a href="Peercoin" title="Peercoin">Peercoin</a></li>

<li><a href="Polkadot_(blockchain_platform)" title="Polkadot (blockchain platform)">Polkadot</a></li>

<li><a href="Solana_(blockchain_platform)" title="Solana (blockchain platform)">Solana</a></li>

<li><a href="Steemit" title="Steemit">Steem</a></li>

<li><a href="Tezos" title="Tezos">Tezos</a></li>

</div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="ERC-20" class="mw-redirect" title="ERC-20">ERC-20</a> tokens</th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em">

<ul><li><a href="Augur_(software)" title="Augur (software)">Augur</a></li>

<li><a href="Aventus_(protocol)" title="Aventus (protocol)">Aventus</a></li>

<li><a href="Brave_(web_browser)#Basic_Attention_Token" title="Brave (web browser)">Basic Attention Token</a></li>

<li><a href="Chainlink_(blockchain_oracle)" title="Chainlink (blockchain oracle)">Chainlink</a></li>

<li><a href="KodakCoin" title="KodakCoin">KodakCoin</a></li>

<li><a href="Minds_(social_network)" title="Minds (social network)">Minds</a></li>

<li><a href="Polygon_(blockchain)" title="Polygon (blockchain)">Polygon</a></li>

<li><a href="Shiba_Inu_(cryptocurrency)" title="Shiba Inu (cryptocurrency)">Shiba Inu</a></li>

</div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="Stablecoin" title="Stablecoin">Stablecoins</a></th><td class="navbox-list-with-group navbox-list navbox-even" style="width:100%;padding:0"><div style="padding:0 0.25em">

<li><a href="Terra_(blockchain)" title="Terra (blockchain)">Terra</a></li>

<li><a href="Tether_(cryptocurrency)" title="Tether (cryptocurrency)">Tether</a></li>

</div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="Meme_coins" class="mw-redirect" title="Meme coins">Meme coins</a></th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em">

<li><a href="%24CHILLGUY" class="mw-redirect" title="$CHILLGUY">Chill Guy</a></li>

<li><a href="Coinye" title="Coinye">Coinye</a></li>

<li><a href="Dogecoin" title="Dogecoin">Dogecoin</a></li>

<li><a href="LGBcoin" class="mw-redirect" title="LGBcoin">LGBcoin</a></li>

<li><a href="%24Libra" class="mw-redirect" title="$Libra">Libra</a></li>

<li><a href="%24Melania" class="mw-redirect" title="$Melania">Melania</a></li>

<li><a href="Pawthereum" title="Pawthereum">Pawthereum</a></li>

<li><a href="%24Trump" title="$Trump">Trump</a></li></ul>

</div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">Other currencies</th><td class="navbox-list-with-group navbox-list navbox-even" style="width:100%;padding:0"><div style="padding:0 0.25em">

<li><a href="Filecoin" title="Filecoin">Filecoin</a></li>

<li><a href="Hashgraph" class="mw-redirect" title="Hashgraph">HBAR (Hashgraph)</a></li>

<li><a href="Helium_Network" title="Helium Network">Helium</a></li>

<li><a href="MobileCoin" title="MobileCoin">MobileCoin</a></li>

<li><a href="SafeMoon" title="SafeMoon">SafeMoon</a></li>

<li><a href="Stellar_(payment_network)" title="Stellar (payment network)">Stellar</a></li>

<li><a href="WhopperCoin" title="WhopperCoin">WhopperCoin</a></li>

<li><a href="XRP_Ledger" title="XRP Ledger">XRP Ledger</a></li></ul>

</div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="List_of_cryptocurrencies#Inactive_currencies" title="List of cryptocurrencies">Inactive currencies</a></th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em">

<ul><li><a href="Bitconnect" title="Bitconnect">BitConnect</a></li>

<li><a href="Coinye" title="Coinye">Coinye</a></li>

<li><a href="KodakCoin" title="KodakCoin">KodakCoin</a></li>

<li><a href="OneCoin" title="OneCoin">OneCoin</a></li>

<li><a href="Petro_(token)" title="Petro (token)">Petro</a></li></ul>

</div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">Crypto service companies</th><td class="navbox-list-with-group navbox-list navbox-even" style="width:100%;padding:0"><div style="padding:0 0.25em">

<ul><li><a href="Hyperledger" title="Hyperledger">Hyperledger</a></li>

<li><a href="Quahl" title="Quahl">Initiative Q</a></li></ul>

</div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">Related topics</th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em">

<ul><li><a href="%24Libra_cryptocurrency_scandal" title="$Libra cryptocurrency scandal">$Libra cryptocurrency scandal</a></li>

<li><a href="2023_United_States_banking_crisis" title="2023 United States banking crisis">2023 United States banking crisis</a></li>

<li><a href="Airdrop_(cryptocurrency)" title="Airdrop (cryptocurrency)">Airdrop</a></li>

<li><a href="Bitcoin_in_El_Salvador" title="Bitcoin in El Salvador">Bitcoin in El Salvador</a></li>

<li><a href="BitLicense" title="BitLicense">BitLicense</a></li>

<li><a href="Blockchain_game" title="Blockchain game">Blockchain game</a></li>

<li><a href="Complementary_currency" title="Complementary currency">Complementary currency</a></li>

<li><a href="Crypto-anarchy" title="Crypto-anarchy">Crypto-anarchy</a></li>

<li><a href="Cryptocurrencies_in_Europe" title="Cryptocurrencies in Europe">Cryptocurrencies in Europe</a></li>

<li><a href="Cryptocurrencies_in_Puerto_Rico" title="Cryptocurrencies in Puerto Rico">Cryptocurrencies in Puerto Rico</a></li>

<li><a href="Cryptocurrency_bubble" title="Cryptocurrency bubble">Cryptocurrency bubble</a></li>

<li><a href="Cryptocurrency_in_Australia" title="Cryptocurrency in Australia">Cryptocurrency in Australia</a></li>

<li><a href="Cryptocurrency_in_Nigeria" title="Cryptocurrency in Nigeria">Cryptocurrency in Nigeria</a></li>

<li>Cryptocurrency scams</li>

<li><a href="Digital_currency" title="Digital currency">Digital currency</a></li>

<li><a href="Decentralized_autonomous_organization" title="Decentralized autonomous organization">Decentralized autonomous organization</a></li>

<li><a href="Decentralized_application" title="Decentralized application">Decentralized application</a></li>

<li><a href="Distributed_ledger_technology_law" title="Distributed ledger technology law">Distributed ledger technology law</a></li>

<li><a href="Double-spending" title="Double-spending">Double-spending</a></li>

<li><a href="Environmental_impact_of_bitcoin" title="Environmental impact of bitcoin">Environmental impact</a></li>

<li><a href="Initial_coin_offering" title="Initial coin offering">Initial coin offering</a></li>

<li><a href="Initial_exchange_offering" title="Initial exchange offering">Initial exchange offering</a></li>

<li><a href="List_of_cryptocurrencies" title="List of cryptocurrencies">List of cryptocurrencies</a></li>

<li><a href="Non-fungible_token" title="Non-fungible token">Non-fungible token</a></li>

<li><a href="Token_money" title="Token money">Token money</a></li>

<li><a href="Strategic_bitcoin_reserve_(United_States)" title="Strategic bitcoin reserve (United States)">United States Strategic Bitcoin Reserve</a></li>

<li><a href="Virtual_currency" title="Virtual currency">Virtual currency</a></li></ul>

</div></td></tr><tr><td class="navbox-abovebelow" colspan="2"><div>

<ul><li><span class="noviewer" typeof="mw:File"><span title="Category"></span></span> <b>Category</b></li>

<li><span class="noviewer" typeof="mw:File"><span title="Commons page"></span></span> <b><a href="https://commons.wikimedia.org/wiki/Category:Cryptocurrency" class="extiw external" title="commons:Category:Cryptocurrency">Commons</a></b></li>

</div></td></tr></tbody></table></div>

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