THE CRYPTO MOBILE
Your crypto learner's blog
How it began: A brief history of cryptocurrencies.
Cryptocurrency also known as crypto-currency, or in it’s shortest form crypto is, a digital or virtual currency that uses cryptography to secure transactions. Because cryptocurrencies use cryptography, it nearly impossible to counterfeit.
Digital Currencies (Early days).
In the early days before cryptocurrencies, the idea of digital currencies existed. These digital currencies used cryptographic techniques for secure use on the internet. Examples of such digital currencies include; B-money, Bit Gold, etc. Although these existed, none of them was a success until, the Bitcoin was created.
Bitcoin (2008).
In 2008, a document was published describing the inner working of the bitcoin cryptocurrency. This publication was titled, “Bitcoin: A Peer-to-Peer Electronic Cash System“. The paper was published by an individual or a group called, Satoshi Nakamoto. The identity of Satoshi Nakamoto is unknown even till this day. Many people have tried to claim his identity since the birth of bitcoin, but none can prove their claims. In the paper, bitcoin is described as an open sourced technology, meaning no one owned bitcoin and it was for everyone. This marked the beginning of the cryptocurrency era.
The Modern Blockchain (2009).
Cryptocurrencies run on a distributed public ledger called blockchain. The blockchain is a record of all transactions updated and held by cryptocurrency holders.
In January 2009, Bitcoin was officially launched, and the first bitcoin was mined (the genesis block) by Satoshi Nakamoto which introduced the public to bitcoin mining. Cryptocurrency mining involves using computer power to solve complicated mathematical problems that generate coins.
In 2010, the first transaction was recorded on the blockchain. Laszlo Hanyecz used 10,000 bitcoin to purchase two pizzas. The transaction was widely recognized as a real-world use of bitcoin. This sparked a new era in blockchain technology and cryptocurrencies as it showed a practical use for cryptocurrencies in the financial market.
Technology Growth in Cryptocurrencies (2011 - Today).
The success of bitcoin insighted a lot of interest into blockchain technology and cryptocurrency. As a result, alternate cryptocurrencies also known as altcoins or alts began to pop up providing numerous solutions. For example, Litecoin which ensured faster block generation time using a different algorithm. We also have Ethereum in 2015, which introduced smart contracts. Later came the ICO (Initial Coin Offerings), Bitcoin Halving, NFTs, DeFi, and other technologies.
All of these let to an explosive and exponential growth in cryptocurrencies.
Conclusion.
Bitcoin Halving Countdown.
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Bitcoin Halving Countdown.
New to Cryptocurrency?
We have searched the internet looking for helpful beginner guides to get you started on cryptocurrency. These resources are meant to better educate you, enhancing your understanding of cryptocurrencies.
Crypto Blogs With The Latest News
These blogs and websites bring you the latest news on cryptocurrencies. Some are focus on more than one cryptocurrency while others talk about the general updates in the crypto space.
Site: CryptoDaily
Specialty: Cryptocurrency News, Business, NFts and more.
Site: The Spuzz
Specialty: Cryptocurrency, Personal Finance, SME & Startup and more.