Q1)When was the Genesis BTC Block mined? What a coincidence its also my date of birth.
3 Jan 2009 at approximately 18:15:05 GMT
Q2)Halving occurs after every _____ Blocks.
210,000
Q3)Which curve BTC use for its elliptic curve cryptography. (IN FULL FORM)
The Secp256k1 curve used with Elliptic Curve Digital Signature Algorithm (ECDSA)
This is the curve with:
- a = 0
- b = 7
- (resulting in a curve equation of y2=x3+7
- p = 2256 - 232 - 29 - 28 - 27 - 26 - 24 - 1
- Base point G = 04 79BE667E F9DCBBAC 55A06295 CE870B07 029BFCDB 2DCE28D9 59F2815B 16F81798 483ADA77 26A3C465 5DA4FBFC 0E1108A8 FD17B448 A6855419 9C47D08F FB10D4B8
- n = FFFFFFFF FFFFFFFF FFFFFFFF FFFFFFFE BAAEDCE6 AF48A03B BFD25E8C D0364141
- h = 01
Q4)What is the maximum supply of BTC that will ever exist?
Less than 20,999,999.9769
While the limit appeared to be 20,999,999.9769 at the time that the software was first released, an unnoticed bug in the code allowed miners to accidentally erase some bitcoins from existence by creating a duplicate coinbase transaction. This happened a couple of times before the bug was noticed and fixed which reduced the total supply below this initial value. Additionally, there are many bitcoins that are provably unspendable, so while they do still exist, they can't really be considered part of the "supply" any longer.
Q5)How long does it typically take to mine a new BTC block?
The protocol attempts to keep the AVERAGE time between blocks close to 10 minutes. However, due to the increasing global hash rate over the past 16 years, as well as the effects of random distribution, more than half of all blocks have been faster than that meaning that the TYPICAL time is actually a bit less than 10 minutes.
Q6)What hash function does BTC use to secure transactions and create block hashes?
Not sure what you mean by "secure transactions", but SHA256 is used for block hashing as well as for the Merkle Tree.
Q7)Which type of BTC address to you use.
All types.
Some of the more popular ones are:
- P2PK
- P2PKH
- P2SH
- P2WPKH
- P2WSH
- P2SH-P2WPKH
- P2MS
- P2TR
Q8)Purpose of "OP_RETURN" opcode.
Creates an unspendable output which can then be removed from mempool reducing the total number of unspent transaction outputs that need to be tracked. It is often used by those that want to store data in the blockchain instead of using the blockchain for exchange of value.
Q9)What is the best exchange in your opinion.
None. The best way to interact with Bitcoin is to receive it as payment for a product or service, and to use it to pay for products and services. In this way, it serves it's intended function as described in the White Paper:
"an electronic payment system based on cryptographic proof instead of trust, allowing any two willing parties to transact directly with each other without the need for a trusted
third party"Q10)Are you a dev?
A dev? Do you mean, have I ever written any software code for any purpose ever in my life? Sure.
