Bitcoin is Nine years Old
It has been a wild run from the early days, but today marks precisely nine years since Bitcoin (the most influential crypto currency) blockchain network had its very first block mine.
On this day nine years ago, Satoshi Nakamoto, founder of the world’s first crypto currency launched the Bitcoin network by creating the "genesis block," the first entry in Bitcoin's global transaction register. It includes the following text: "The Times 03/Jan/2009 Chancellor on brink of second bailout for banks."
Nakamoto in his quest to introduce a virtual currency that isn't controlled by the bank created the first crpyto currency.
He said that Bitcoin would be
“a purely peer-to-peer version of electronic cash that would allow online payments to be sent directly from one party to another without going through a financial institution.”
He also invented the blockchain technology,as a public ledger, for bitcoin transfers.
Fast forward to today and the blockchain technology is used by three million users every day, with that number expected to increase to 200 million within the next seven years, according to projections.
Bitcoin has generated so much interest and has had global central banks so worried that several are now considering regulating the currency, legalising it, or even evolving their own crypto currency.
Since the birth of Bitcoin back in 2009, the cryptocurrency market has experienced tremendous growth, boasting more than 1,000 different digital currencies and a total market cap of $695 billion.
Bitcoin continues to be the leading cryptocurrency, with a staggering market share of $250 billion.