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).



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