Coinspeaker
News
  • Business
    • Deals
    • Investors
    • IPO
    • Startups
    • Wall Street
  • Markets
    • Bonds
    • Commodities & Futures
    • Currencies
    • Funds & ETFs
    • Indices
    • Stocks
  • Crypto
    • Blockchain
    • Bitcoin
    • Binance
    • Ethereum
    • XRP
    • Altcoins
    • Token Sales
  • Technology
    • Artificial Intelligence
    • Big Data
    • Cloud Computing
    • Cybersecurity
    • Gaming
    • Internet of Things
    • Mobile
    • Social Media
    • Transportation
    • VR and AR
  • FinTech
  • Personal Finance
  • Topics
  • Work It
  • Press Releases
Guides
  • Investing
    • Bonds Guides
    • Commodities & Futures Guides
    • Currencies Guides
    • Funds & ETFs Guides
    • Indices Guides
    • Stocks Guides
    • Forex Guides
  • Crypto
    • Altcoins Guides
    • Bitcoin Guides
    • Ethereum Guides
    • XRP Guides
    • Blockchain Guides
    • Token Sales Guides
  • FinTech
  • Tech
  • Glossary
Tools
  • Coins
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • XRP (XRP)
    • Tether (TUSD)
    • EOS (EOS)
    • Binance (BNB)
    • Litecoin (LTC)
    • Tron (TRX)
  • Token Sales
    • ICO List
    • STO List
    • IEO List
  • Organizations
  • Persons
  • Events
COMPANY
  • About
  • Contact
  • Advertise
  • Partners
  • Careers
  • Privacy Policy
  • Terms and Conditions
Social
  • Facebook
  • Twitter
  • Telegram
  • LinkedIn
  • RSS Feed

© 2023 MDD Group FZE LLC ALL RIGHTS RESERVED.

About Contact Advertise
Coinspeaker
  • Business
    • Deals
    • Investors
    • IPO
    • Startups
    • Wall Street
  • Markets
    • Bonds
    • Commodities & Futures
    • Currencies
    • Funds & ETFs
    • Indices
    • Stocks
  • Crypto
    • Altcoins News
    • Bitcoin News
    • Blockchain News
    • Binance News
    • Ethereum News
    • Token Sales News
    • XRP News
  • Technology
    • Artificial Intelligence
    • Big Data
    • Cloud Computing
    • Cybersecurity
    • Gaming
    • Internet of Things
    • Mobile
    • Social Media
    • Transportation
    • VR & AR
  • FinTech
  • Personal finance
  • Guides
    • Crypto
    • FinTech
    • Investing
    • Personal Finance Guides
    • Technology
  • Tools
    • Coins
    • ICO List
    • IEO List
    • STO List
    • Organizations
    • Persons
    • Events
Bitcoin (BTC)
1 BTC = ... USD
    US Dollar (USD)
    1 USD = ... BTC
      1 BTC = ... USD
      Go to the converter page

      The Bitcoin Ecosystem [Infographic]

      Nov 19 2015 · 18:21 UTC | Updated Nov 25 2015 · 17:17
      by Polina Chernykh · 2 min read

      The Bitcoin Magazine and Bitpay created an infographic, called the “Bitcoin City”, which features the main bitcoin companies that discuss the future of the digital currency.

      The Bitcoin Magazine has developed an infographic demonstrating how the bitcoin has been developing since its launch six years ago. Created in partnership with Bitpay, the “Bitcoin City” shows the main areas of the cryptocurrency ecosystem and some of the key bitcoin companies.

      The bitcoin network was released on January 3, 2009, when the first block in the blockchain, a distributed ledger technology behind bitcoin, was mined by its founder Satoshi Nakamoto.

      Like many other technologies, bitcoin had come a long way until it reached a widespread adoption by financial companies across the world. In the meantime, such events as the closure of the Silk Road black marketplace and the collapse of the Mt. Gox exchange, negatively affected the digital currency. Following these cases, early advocates of the technology lost millions of dollars in digital currency.

      However, the industry is still growing, with bitcoin being widely used for microtransactions, international remittances, smart contracts, securities trading and machine-to-machine transactions.

      While the scale of bitcoin mining is steadily rising, the hardware is growing in power. Currently, miners are establishing multi-megawatt data centers equipped with high-powered computers. In 2014, the bitcoin network hashrate amounted to just 10 million GH/s, whilst now it totals 504 million GH/s. Within the same time period, the bitcoin network daily capacity increased from 50,000 transactions to 170,000 transactions.

      Meanwhile, the number of merchants accepting payments in virtual currency is growing too. In mid-year 2015, there were 100,000 merchants who integrated bitcoin, while in mid-2014 the number of traders totaled 65,000.

      This August, bitcoin company, BitPay, processed about 70,000 transactions, what shows that cryptocurrency as a mean of payment is steadily growing in popularity.

      During the current year, bitcoin firms raised over $1 billion in funding, what shows that venture capital investment in the sector is rapidly growing. In comparison, last year bitcoin startups raised around $314.7 million.

      The “Bitcoin City” inforgraphic features some of the major industry players, which discuss the huge potential of the digital currency in the near future.

      next
      The Bitcoin Ecosystem [Infographic]
      Polina Chernykh
      Author Polina Chernykh

      Polina is an undergraduate student at Belarusian State Economic University (BSEU) where she is studying at the faculty of International Business Communication for a degree specializing in Intercultural Communication. In her spare time she enjoys drawing, music and travelling.

      Share:
      Created with Sketch.
      Subscribe to our telegram channel. Join

      Related Articles

      By Sanaa Sharma January 20th, 2023
      Blockchain News, Business News, Cryptocurrency news, News Cardano Co-Founder Hoskinson Considering Acquiring CoinDesk
      By Sanaa Sharma January 20th, 2023

      Hoskinson predicted that the purchase would cost him around two hundred million USD and that he will examine the financial details before taking concrete action.

      By Mayowa Adebajo January 19th, 2023
      Business News, Investors News, News CoinDesk Contemplates Full or Partial Sale as Parent Company Scampers for Funds
      By Mayowa Adebajo January 19th, 2023

      DCG is currently looking for ways to save its business and grow its capital.

      By Tolu Ajiboye November 30th, 2022
      Business News, Cryptocurrency news, Deals News, News CoinDesk Might Be Heading for Buyout Sooner or Later
      By Tolu Ajiboye November 30th, 2022

      Crypto news site CoinDesk has reportedly sparked buyout interest following the platform’s report on FTX and Alameda ties.

      Top Cryptocurrencies
      • Bitcoin Icon Bitcoin BTC $22 717 -1.80%
      • Ethereum Icon Ethereum ETH $1 638 -2.08%
      • BNB Icon BNB BNB $321 -3.18%
      • XRP Icon XRP XRP $0.40 -1.56%
      • Cardano Icon Cardano ADA $0.39 -3.07%
      View All
      Top news
      Wall Street Traders Betting Interest Rate Will Surpass 6% This Year
      Wall Street Traders Betting Interest Rate Will Surpass 6% This Year

      February 9th, 2023

      Increased Call for Higher Taxation Rises as Energy Giants Rake in Billions in Profit
      Increased Call for Higher Taxation Rises as Energy Giants Rake in Billions in Profit

      February 8th, 2023

      Bitcoin and Ether Edge Higher after Fed Chair Powell Delivers Hawkish Remarks
      Bitcoin and Ether Edge Higher after Fed Chair Powell Delivers Hawkish Remarks

      February 8th, 2023

      Bitcoin Price Losses Rising Momentum at $23K
      Bitcoin Price Losses Rising Momentum at $23K

      February 7th, 2023

      Nasdaq Hits Straight Five Weeks of Rally, Largest Since November 2021
      Nasdaq Hits Straight Five Weeks of Rally, Largest Since November 2021

      February 6th, 2023

      News
      • Business
      • Markets
      • Crypto
      • Blockchain
      • FinTech
      • Technology
      Featured Sections
      • Coins
      • IEO List
      • STO List
      • ICO List
      • Organizations
      • Persons
      • Events
      • Guides
      • Glossary
      Featured Links
      • Story of the day
      • Editor's Choice
      • Videos
      • Infographics
      • Work It
      • Press Releases
      Guides
      • Crypto
      • Investing
      • Financial technology
      • Tech
      • Glossary
      Connect with us
      • Facebook
      • Twitter
      • Telegram
      • LinkedIn
      • Pinterest
      • RSS Feed
      About us
      • About
      • Contact
      • Careers
      • Advertise
      • Partners
      • Sitemap
      • Privacy Policy
      • Terms and Conditions

      Copyright © 2023 MDD Group FZE LLC All rights reserved.

      Reproduction in whole or in part in any form or medium without express written permission of MDD Group FZE LLC is prohibited.