Binance Explain Why There Will Never Be 21 Million Bitcoins

Binance Explain Why There Will Never Be 21 Million Bitcoins

A common belief in the world of cryptocurrency is that the total number of bitcoins that will ever exist is 21 million. However, in their latest blog post, Binance have dispelled this as false.

Binance have long been at work providing insights into the world of cryptocurrency via their research program. In their latest post, they work this time as a fact-checker and myth-buster by providing the overview of the common misconception about the world’s leading cryptocurrency asset.

The reason for 21 million comes directly from bitcoin’s creator, Satoshi Nakamoto. However, according to the platform, this was never an exact number and was instead more of an “educated guess” that stems from 21 being a triangular number and thus, an easier way for it to be computed.

Binance has since done maths of their own and have landed on the much lower number for the final mined bitcoin to be number 6,929,999. This is based on several equations and other factors that contribute to how bitcoin is mined. All of which you can read on their website.

Of course, the timing of this information is not by chance and is likely to help further understand the implications of the upcoming halving later this month.

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