Calculation of the number of legal private keys of Bitcoin and their total amount

In the world of digital currency, Bitcoin, as an influential cryptocurrency, has attracted the attention of countless investors and technology enthusiasts. The total number of legal private keys of Bitcoin and how to calculate the legal total number of Bitcoin have become important issues for people to understand this digital asset. This article will delve into this topic, revealing the number of Bitcoin private keys and the calculation logic behind them, so as to help readers better understand the working principle of this cryptocurrency.

The private key of Bitcoin is a very important concept. It is equivalent to the password in traditional currency and controls the ownership of Bitcoin. Each Bitcoin address corresponds to a private key, and only the person who owns the private key can control the corresponding Bitcoin. Therefore, the number of private keys directly affects the storage and transaction security of Bitcoin.

First, we need to clarify the generation mechanism of Bitcoin private keys. Bitcoin's private key is usually a 256-bit random number, which means that its possible number of combinations is 2 to the power of 256. This number is an astronomical number, specifically, about 1.1579209 × 10^77. Such a number of combinations is almost incredible, enough to ensure that each Bitcoin user has a unique private key without having to worry about duplication with other users.

To better understand this, imagine if we compare the total number of Bitcoin private keys to the number of atoms in the universe. According to scientists' estimates, the number of atoms in the universe is about 10^80. The number of Bitcoin private keys is far more than this number, which means that even in an extremely large universe, the uniqueness of Bitcoin private keys is obvious.

When discussing the legal total number of Bitcoins, we also need to pay attention to the Bitcoin issuance mechanism. The total number of Bitcoins is limited to 21 million, a number determined by Bitcoin's founder Satoshi Nakamoto when it was designed. The issuance of Bitcoin adopts a "halving" mechanism, that is, the number of Bitcoins rewarded to miners will be halved every 210,000 blocks. This mechanism ensures the scarcity of Bitcoin, giving it a certain potential for future value increases.

With this design, the legal total number of Bitcoins can be calculated by the number of Bitcoins that have been mined so far. So far, more than 19 million Bitcoins have been mined, which means that there are about 2 million Bitcoins to be mined. Based on the current mining speed and halving mechanism, it is expected that all Bitcoins will be fully mined by 2140.

It is worth noting that although the total amount of Bitcoin is 21 million, the actual number of Bitcoins in circulation may be less than this number due to various reasons. For example, some Bitcoins cannot be recovered because the user loses the private key, and this part of Bitcoin will always be in a "dead" state. In addition, some Bitcoins are locked in cold wallets for a long time and cannot be traded in the short term. These factors make the number of Bitcoins in actual circulation more limited.

In the Bitcoin ecosystem, the management of private keys is crucial. Users need to ensure the safe storage of private keys to avoid asset losses caused by hacker attacks or accidental loss. In recent years, as the value of Bitcoin continues to rise, the security of private keys has received more and more attention. The emergence of various wallet applications and hardware wallets provides users with a safer private key management solution, which improves the use experience of Bitcoin.

At the technical level, the security of the Bitcoin network also relies on its decentralized nature. Bitcoin transactions are realized through blockchain technology, and all transaction information is recorded in an open and transparent ledger. This feature not only ensures the immutability of transactions, but also enhances the network's anti-attack ability. Therefore, even if some nodes are attacked, the entire network can still maintain stable operation.

When discussing the number and total number of legal private keys of Bitcoin, we cannot ignore the dynamic changes of the market. With the popularity of Bitcoin, more and more people are beginning to pay attention to the investment value of this digital asset. The rise of major exchanges has made the circulation of Bitcoin more convenient. However, the volatility of the market also makes investing in Bitcoin risky, and investors need to carefully assess their risk tolerance.

From a personal perspective, Bitcoin investment is not only an option for asset appreciation, but also an exploration of the future financial system. With the continuous development of blockchain technology, more and more application scenarios will emerge, and the use of digital currency will become more extensive. As a pioneer of digital currency, Bitcoin will surely play an important role in the future financial ecology.

In general, the calculation of the total number and legal total number of Bitcoin legal private keys reflects its unique design concept and technical advantages. Through in-depth analysis of private keys and total amount, we can not only better understand the operating mechanism of Bitcoin, but also provide investors with a more comprehensive perspective. In this era of digital currency full of opportunities and challenges, keeping an eye on Bitcoin and the technology behind it will be an important topic for every investor.

In the future financial world, digital currency may become mainstream, and Bitcoin, as one of the best, will continue to lead this trend. Whether as an investment tool or a means of payment, the potential of Bitcoin should not be underestimated. It is hoped that through this article, readers will have a deeper understanding of the number and total number of legal private keys of Bitcoin, so that they can make more informed decisions in this era of change.

The four most famous international exchanges:

Binance INTL	OKX INTL	Gate.io INTL	Huobi INTL
China Line　APP DL	China Line　APP DL	China Line　APP DL	China Line　APP DL

Note: The above exchange logo is the official website registration link, and the text is the APP download link.

What is the total number of legal private keys of Bitcoin? How to calculate the total number of legal Bitcoin? As a digital currency, Bitcoin is also legal, and its total number of legal private keys is about 2^256. As for its total number, I believe everyone must be very clear, but if you want to know more about its legal total number algorithm, the editor will introduce it to you in detail below. I also hope that everyone can learn more and clarify more information through the introduction of the editor of Beecha.

The so-called legality is the addition of a Base58 verification format. The private key is not the most basic. The more basic is the Secret
Exponent. That is, the brain wallet can pass any string through the SHA256 algorithm to get a 256 number. Therefore, there are 2^256 Secret
Exponents, and then after adding version compression format and verification, each Secret Exponent has two private keys, corresponding to the two compressed and uncompressed addresses.

Therefore, there are 2^2562=2^257=2.3158417847463  10^77 private keys.

What is the total number of legal Bitcoin private key addresses?

Legality also means whether it meets the Base58 verification format. The address is shorter than the private key. The 160 binary numbers are obtained by adding the version number and verification. Note that there is no compression mark when the address is generated. It is impossible to know whether it is a compressed address only from the address.

Therefore, there are 2^160=1.4615016373309  10^48 wallet addresses

Are there the same number of them, and is there a one-to-one correspondence?

From the above, we can naturally see that there are not the same number, and it is not a one-to-one correspondence. What is the correspondence? Any private key that comes out must have another private key corresponding to it. The pairs of compressed and uncompressed ones can be derived from each other.

Each private key corresponds to a wallet address. And because it has a pair of private keys that can be exported, that also corresponds to a wallet address. Therefore, it can be regarded as a private key corresponding to two addresses.

Each address may not have any private key, or it may have one, two or more private keys, that is, one-way correspondence, a private key can correspond to another private key, and the two add up to correspond to two addresses. However, it is unknown whether a legal address can have a private key in the reverse direction and how many private keys there are.