The cover article in the September 2016 issue of Proceedings of the IEEE.
Written by Sveinn Valfells and Jón Helgi Egilsson
Launched in January of 2009, Bitcoin is a rapidly growing peer-to-peer (P2P) online payment network with an annual transaction volume of $45.4 billion. The market cap of the bitcoin digital currency (BTC) is currently $10.2 billion.1 For comparison, PayPal, which was founded nine years before Bitcoin was launched, had payment volume of $282 billion in 2015 and a market cap of $45 billion at the end of last year. PayPal’s volume is still growing at an impressive 27% per annum, but the value and number of bitcoin transactions have, on average, more than doubled every year since inception, a strong indication that this new payment network is on a fast trajectory toward mainstream adoption,
Read the full article here:
Minting Money With Megawatts / Proceedings of the IEEE