10 facts about cryptocurrencies and bitcoins that everyone must know

Hello everyone I hope that you all are doing well, now let's get to the point. In this post, we are going to see 10 facts that everyone must know about cryptocurrency and bitcoins and for those who are really interested in these types of crypto information facts and other related contents. 


4-types-of-cryptocurrencies


If you are starting out new in the field of cryptocurrencies go read this blog on What is a cryptocurrency, crypto mining, and cryptography.---- click here. or watch the video in my youtube channel   

So let's get started with the 10 facts that all should know about cryptocurrency and bitcoins. I hope you enjoy this blog.

  • The creator of bitcoin is unknown

No one actually knows who created cryptocurrency. The decentralized cryptocurrency bitcoin was developed by Satoshi Nakamoto in 2009, which is pseudonymous. There is also another history that in the year 1983 David Chaum conceived an anonymous cryptographic electronic money known as e-cash which he later implemented through digicash in 1995


  • First bitcoin ATM.

First Bitcoin ATM was established in the United States on 20 February 2014 by Jordan Kelly-- founder of Robo-coin


  • The total market cap of cryptocurrency
The total market cap of cryptocurrency surpassed USD 2 trillion for the first time on 5th April 2021

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bitcoin


  • Banned in several countries

Despite its popularity, cryptocurrency is banned in many countries.I'll leave the links to find if your country has banned the cryptos or legal.

  • First time-stamping scheme

The first timestamping scheme invented was the proof of work scheme. Cryptocurrency uses various timestamping scheme to prove the validity of transaction added to the blockchain ledger without the need for a trusted third party

  • Bitcoin

The first word that comes to the minds of the people when they hear the word cryptocurrency, was first released as open-source software in 2009-the first decentralized cryptocurrency and after that many no: of cryptocurrencies were created.

I couldn't find the exact no: of  types but some said 6,000  or  7,000 and even 10,000 .So I will leave the links at the bottom  of this post , if you are interested please visit them.

  • Limit of  Bitcoin

Did you know that there is a  limit to bitcoins that can exist?
There can only be 21 million.




                                    

  • The first bitcoin received


The first bitcoin was received by cypherpunk Hal Finney who created reusable proof-of-work in 2004.

  • The first major user of cryptocurrency 


After early "proof-of-concept" transactions, the first major users of cryptocurrency wear black market such as Silk Road.

Silk road-- It was an online black market and the first modern black market. During its 30 month existence from 2011 February, silk road used Bitcoins for payment having a transaction of point 9.9 million in  Bitcoin which is worth about 214 million dollars.

  • First regulated bitcoin fund

The first regulated bitcoin fund was established in Jersey in July 2014 which was approved by the jersey financial service commission 


so that's it for today hope you like the post if you like it share it to your friends and also watch my videos in my youtube channel and share your thoughts in the comments section



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