Block Quote: 839693

'It is a global distributed database, with additions to the database by consent of the majority, based on a set of rules they follow:

- Whenever someone finds proof-of-work to generate a block, they get some new coins

- The proof-of-work difficulty is adjusted every two weeks to target an average of 6 blocks per hour (for the whole network)

- The coins given per block is cut in half every 4 years' February 18, 2009 - Satoshi Nakamoto