Ten years ago, the world was introduced to one of the most revolutionary tech projects in the form of Bitcoin blockchain. Both Bitcoin maximalists and other cryptocurrency investors are celebrating the 10th anniversary of Bitcoin with a commendable accomplishment of zero downtime.
Bitcoin is the first ever decentralized cryptocurrency project that was open-sourced and community governed from day 1. Since the introduction of Bitcoin, many new cryptocurrency projects and blockchains have debuted.
However, almost all major blockchain projects have suffered from hack attacks or technical lags. This is currently celebrated as a big accomplishment in the cryptocurrency circles, considering that it is not a small feat to attempt.
Reddit user Tasiguri has shared an update about the total operational duration of Bitcoin in a recent post uploaded on March 17th. This post confirms that Bitcoin has remained operational 24/7 for 10 consequent years without many hiccups.
Bitcoin to Remain Operational for 3,650 Days without Stopping
Bitcoin was first introduced by a pseudonymous force called Satoshi Nakamoto in 2009. Since its introduction, there have been two incidents where Bitcoin faced lag. One such event happened in 2010 when a rouge Bitcoin block created a massive amount of Bitcoins on account of code overflow.
However, the stakeholders of the network identified the issue and patched it within a small duration. The developers restored the Bitcoin blockchain to its natural flow and maintained the integrity of the network.
However, the total uptime of the Bitcoin blockchain was 99.90% in 2010. The second incident happened in 2013 with another block adding phantom transaction records to others. This rouge block was mined and introduced to the blockchain, which resulted in a fork in the Bitcoin network.
This new issue was also identified and resolved by the community members that, protected the rest of the network from its impact. At the end of 2013, Bitcoin’s total uptime was calculated at 99.932% accuracy.
These uptime metrics confirm that these small technical incidents did not cause any major delays or pauses in Bitcoin operations to date. Following the demise of three American banks, Bitcoin has once again regained its strength as a proper alternative to traditional banking failures. The cryptocurrency project is not only a haven for its investors, but it has also gained a green card from the financial regulators.
Recently, SEC Chief has implicated Ethereum as an unregistered security on account of its PoS transition. However, he has passed Bitcoin as a commodity that does not have any danger of regulatory pushback.
Therefore, it is no surprise that Bitcoin has amassed a cult-like followership among many investors. There are several financial investors who have characterized Bitcoin as the best possible investment during periods of economic constraints. Bitcoin investors are touting its operational accuracy as a testament to its stability and resilience.