A Brief History of Cryptocurrency



  1. There had been many attempts to create online currencies with ledgers secured by encryption can be traced back to bit gold between 1998 to 2005 but was never implemented.
  2. Other notable mentions are b-money, Digi-Cash and e-gold which too not implemented.
  3. Modern digital currency starts in 2008 when Satoshi Nakamoto (whose real identity remains a mystery to this day) published his paper called Bitcoin – A Peer to Peer Electronic Cash System.
  4. Bitcoin become the first decentralized digital coin when it was created in 2008. It then available to the public for the first time in 2009 and mining – the process through which new Bitcoins are created and transactions are recorded and verified on the Blockchain – begins.
  5. Blockchain is a Technology that permits transaction to be gathered into blocks, cryptographically chain block in chronological order, and allows the resulting ledger to be accessed by different servers`- define by yale
  6. Bitcoin was valued for first time in 2010, when someone decided to sell theirs 10,000 BTC of for two pizzas.
  7. Altcoins such as Namecoin and Litecoin was emerged as Bitcoin popularity increases. The term Altcoin is sometimes used to describe alternative cryptocurrencies to bitcoin.
  8. In 2013 Bitcoin prices crushes to $300 from $1000 and In 2014 850,000 Bitcoins was stolen fron Bitcoin exchange Mt.Gox.
  9. In 2016 A Cryptocurrency called Ethereum (Ether) was introduced which facilitate Smart Contract, apps and paved way for emergence of Initial Coin Offerings (ICOs).
  10. In 2017 Bitcoin reaches all time high price $19,783.06 and total Market cap reached $600 Billion.
  11. As of March 2018 there were over 1500 Cryptocurrencies are circulating.
  12. IOTA was the first cryptocurrency not based on a blockchain, and instead uses the Tangle which is a public distributed ledger that stores transactions in a Directed Acyclic Graph (DAG).



Comments

Post a Comment

Popular posts from this blog

Statistics About Internet of Things (IoT) Part - 4

Image
By 2019, 1.9 billion smart home devices are expected to be shipped. This could bring a potential revenue worth $490 billion. IoT smart devices have a deeper penetration in manufacturing, healthcare, and business than in our homes or phones. By 2025 the global worth of IoT tech is projected at $6.2 trillion, with the maximum value from healthcare ($2.5 trillion) and Manufacturing ($2.3 trillion). The number of internet connected “things” already exceeded our population back in 2008. By 2020 this number is expected to reach 50 billion. A whopping $19 trillion is anticipated as cost-savings and profits from this investments. The potential for future growth is massive. Only 0.06% of all the devices that could potentially leverage IoT are actually doing so. This makes the remaining 99.94% available for optimization. Of all the business who chose to implement IoT, 94% have already seen a return on their IoT investments. The market for sm
Read more

What is Internet of Things (IoT) ?

Image
Ø   The phrase Internet of Things (IoT) was first coined in year 1999 by Kevin Ashton, cofounder and executive director of the Auto-ID Centre at MIT. Ø   The concept is to connect all the devices through the internet, so they will be able to communicate with each other. This includes everything from cell phones, cameras, washing machine, lamps, tv, wearable devices and almost everything.                                                                                      (or) Ø   The Internet of Things is a giant network of Physical devices, Vehicles, Buildings and so on embedded with electronics, software, sensors and network connectivity that enable these objects to collect and transmit data via the Internet. It has not only the potential to impact how we live but also how we work. Ø   The first appliance connected to the internet was a coke vending machine at Carnegie Melon University in the late 1980’s. Developers could easily check the status of the machine.
Read more

Statistics About Internet of Things (IoT) Part - 2

Image
Harley Davidson reduced its build-to-order cycle by a factor of 36 and grew overall profitability by 3% to 4% by shifting production to a fully IoT-enabled plant. According to General Electric, the IoT will add $10 to $15 trillion to worldwide GDP growth by 2030—the equivalent of China’s entire current economy. 60% of enterprises do not have the analytics capabilities to take advantage of the data generated from IoT The health care market will feel the impact of the IoT.  ACT , an organization representing over 5,000 mobile technology companies, is forecasting a $117 billion connected health care market by 2020. The city of Barcelona  saves $37 million a year, through smart lighting. And the city’s many IoT initiatives have created 47,000 new jobs. Business Insider  predicts that total business spending on IoT solutions will reach $6 trillion by 2021. Rolls-Royce uses IoT to increase the fuel efficiency
Read more