THE HISTORY OF WHAT IS CRYPTOCURRENCIES
Have you ever wondered how crypto-currency came to be? The history of crypto-currencies is a deep one, one that is born of trial and error. What at first had not seemed like much – grew into the economical master that it is today.
Important points in the history of crypto-currency
- David Chaum – He was the man- that one could say – started it all. At least in the basic sense. Back in the 1980s he had created something people called “blinded money”, which was based off a “blinding” algorithm. This algorithm is still a key factor in the crypto-currency of today, as it is used for secure – unchangeable – transactions. His history with crypto-currency is a good story to tell, but it doesn’t end as happily as one would expect.
- DigiCash – This is Chaum’s own version of crypto-currency. It doesn’t have a happy history – in that it pretty much fell apart during the 1990s, but it’s still an important note in crypto-currency history. There were just many things that had gone wrong, which is a consequence of experiencing something for the first time. Chaum also created another form of crypto-currency called BitGold, which enabled the use of the modern block-chain system – this didn’t have a happy ending either, as it didn’t gain enough interests as far as customers go. However, it did manage to last for a little while.
- E-Gold – One of the most active crypto-currencies in America that existed before the 2000s. It became popular and was actually used fairly often, the only gap in its design was the lack of security that made it very easy for people to steal money – leading many of its users susceptible with major loss. Still, during it’s time – it was pretty successful – garnering millions of customers with recorded billions in transactions.
- Bitcoin – Founded by a guy (or group) who called themselves Satoshi Nakamoto. It was first activated around 2009, and managed to gain some traction with a healthy group of supporters. It is still being used widely today, and is expected to make quite a splash in the general public in the upcoming years.
- WordPress – This is the first major establishment that decided to accept Bitcoin as payment. After this, a lot more followed and it slowly became more and more acceptable for a business to accept crypto-currency. This trend is likely to continue as more and more people being to see the possible benefits of using bitcoin regularly.
The history of crypto-currency is an interesting one, there are a lot of ups and downs that come with trying to break through such a tough market, but it finally did. Now more and more people are interested in the use of it, and that is likely to continue for a while longer. If you’re interested in the handling of crypto-currency, you should get involved now – set yourself apart from the crowd and make a name for yourself in the this flourishing market. You never know, you might be making a little bit of history yourself.