The history of crytpocurrency is actually a fairly short one. Yes, we have had digital currency systems before these cryptocurrencies existed, but they are not the same thing. As we mentioned on our “Cryptocurrency Explained” page, former versions of digital currencies were strictly centralized, whereas these new forms of cryptocurrency, such as Bitcoin and Ethereum, are decentralized in nature.
Cryptocurrency history is certainly short in the grand scheme of things, but there’s been some incredible twists and turns since Bitcoin came on to scene back in 2008. Creating a entirely new technology (blockchain) and a cryptocurrency marketplace worth hundreds of billions, it’s been an entertaining ride so far.
At TotalCrypto, we’re going to keep you updated every month with interesting new developments (both comical and serious) in cryptocurrency with our timeline infographic.
Fernandez 1 Yoandra Fernandez Professor Gomez Introduction to Information Technology February 13, 2021 History of Cryptocurrency The internet is a network tool that millions of individuals use every day. Whether it be on a desk top computer, laptop, tablet, or mobile device, the internet can be easily accessible to millions of individuals around the world at any time of the day. Technical Foundations. Cryptocurrency’s technical foundations date back to the early 1980s, when. The History of Cryptocurrency The first decentralized digital cryptocurrency can arguably be traced back to “ bit gold ” (not to be confused with Bitgold), which was worked on by Nick Szabo between 1998 and 2005 but was never implemented. 18 hours ago The record and trading history of each “coin” is maintained in a shared digital register/ledger of data called “Blockchain”. In context to cryptocurrencies, a blockchain is a digital ledger that keeps the transaction history of every unit of the cryptocurrency, i.e., the ‘coins’, and keeps a record of how ownership of ‘coins.
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