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Home » 13 years of Bitcoin
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13 years of Bitcoin

News DeskBy News Desk8 March 2022Updated:10 March 2022No Comments2 Mins Read
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How it started

Blockchain technology got importance after the concept of Bitcoin was introduced  in 2008. It was created by Satoshi Nakamoto. It is however, a pseudonym given to the mysterious creator(s) of the world’s largest cryptocurrency. In October 2008, Nakamoto came up with the idea for Bitcoin as a digital currency. that would not require any central intermediatory to facilitate transactions in the official Bitcoin whitepaper. Nakamoto touted the bitcoin blockchain as a peer-to-peer network. It could leverage the mathematical discipline of cryptography to obfuscate transactions.

Big future ahead

Bitcoin’s open-source software started operating in 2009. This meant that anyone could participate in the network and bring about changes to the direction of the blockchain.

In 2022, Bitcoin is the most prominent digital currency in the market. the digital currency sports a global market cap of over $700 billion. It has the highest coin price amongst hundreds of cryptocurrencies.

 
Bitcoin has been adopted institutionally by banks and trading firms. These firms are now who are now selling various Bitcoin financial products like Bitcoin Futures exchange-traded funds (ETFs) and Bitcoin Futures. Many companies are taking part in the process of mining new bitcoins and profiting from the process. It was also the first cryptocurrency to be adopted as legal tender by a country, El Salvador.
 
Bitcoin brought about a revolution in the financial industry. It is expected to gain more in future.
 
 
 
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