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    Author Topic: History of Cryptocurrency  (Read 453 times)
    Magic-Maker-40 (OP)
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    September 07, 2023, 10:20:19 AM
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    The history of Cryptocurrency is a journey that started with the creation of Bitcoin(BTC) which is most well-known digital coin Basically the idea of creating a digital currency was explored by computer scientists and a cryptographic hey introduced the concept of digital money in 1980.

    First Bitcoin:
    The most well-known currency(BTC) was created in 2009 known as the famous Bitcoin Pizza Day witnessed by the first Bitcoin. The whitepaper “A Peer to Peer Electronic Cash System”  laid out the blueprint for a decentralized currency system that reeled on blockchain on January 3, 2009.

    First use of BTC:
    First-time Bitcoin(BTC) is used by Small community and tech enthusiasts. The first transection is took place on 10 May 2010 when the programmer paid 10000 BTC in the exchange of 2 pizzas. After BTC the second most popular cryptocurrency appear known as Ethereum was proposed by the programmer in 2013 and launched in 2015.

    Altcoins:
    The success of Bitcoin created a new way for the creation of other alternative currencies which are known as altcoins in these days the altcoin Litecoin (LTC) launched in 2011 was the first altcoin in the crypto.

    First Exchange:

    Mt. Gox was the first exchange where Bitcoin’s selling and purchasing started but the Mt. Gox exchange gated hack and caused a lot of BTC loss and raised concerns about the security of the exchange.

    Initial coins (ICO’S):
    The concept of an initial coin offering is as a funding method it is use to sell new cryptocurrency in the exchange of the already established currency like BTC or ETH that method boosts the creation of new altcoins.

    Defi and Nft’s:

    2020 is the rising year of decentralized finance which creates the traditional finance by using Blockchain technology
    Many central banks are developing their own central digital currency. Cryptocurrency continually enveloping the new technology advancement cause of the new users and the developing technology





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