Understanding Bitcoin Mathematics

What is the maximum supply of Bitcoin?

• 21 million

• 18 million

• 20 million

• 25 million

How many decimal places can Bitcoin be divided into?

• 10

• 8

• 5

• 2

What is the term for the process of verifying Bitcoin transactions?

• Hoarding

• Mining

• Trading

• Staking

What is the current reward for mining a block of Bitcoin?

• 5 BTC

• 12.5 BTC

• 10 BTC

• 6.25 BTC

How often does the Bitcoin network adjust its difficulty?

• Every 2500 blocks

• Every 1000 blocks

• Every 2016 blocks

• Every 500 blocks

What is the term for the digital ledger that records all Bitcoin transactions?

• wallet

• ledger

• blockchain

• database

How many Bitcoins are created approximately every 10 minutes?

• 6.25 Bitcoins

• 10 Bitcoins

• 2.5 Bitcoins

• 5 Bitcoins

What is the smallest unit of Bitcoin called?

• Byte

• Coin

• Satoshi

• Bit

What mathematical problem do miners solve to add a block to the blockchain?

• Calculating the total number of transactions in the block.

• Verifying the identity of the block creator.

• Determining the size of the block to be added.

• Finding a valid nonce for the proof of work puzzle.

What is the significance of the number 21 million in Bitcoin?

• 21 million represents the number of Bitcoin miners.

• 21 million is the total number of Bitcoin transactions.

• 21 million is the current market price of Bitcoin.

• 21 million is the maximum supply of Bitcoin.