Published on October 10th, 2022 | by Bibhuranjan0
A Cryptocurrency Timeline: From eCash to Ethereum
Digital currency has come a long way, and we will not check the timeline of the money here. It has a long timeline, while we only talk about things very straight that start from eCash to ETH in the following paragraphs, while for details, you can visit the site – Bitcoin 360 AI for more. Now, let us begin here:
Before crypto came into the market, it was only conceived with the idea of discussing it in the market. The economic collapse can help in shaking the foundations of the financial industry. The value of traditional money is developed in the same way that allows the public to trust several financial institutions and banks that start waiving it off. There are inherent defects in the currency system that remain exposed, and people tend to look for the correct answer. It helps in coming along with the public stage that can help in becoming ready owing to the idea of a decentralized alternative. Satoshi is also the creator of Bitcoin, and it came as a period of inspiration and then is giving the best.
2008: Economic Crisis Strikes
Before Bitcoin came, the world had faced a global recession that crashed the market. The crisis was deep enough for people to embark on an alternative to the fiat currency. The situation had only one thing in common – the concern about fiat currency issues that led to the crisis. So, if fiat currency is replaced with crypto, problems like recession will disappear.
2009 – The advent of Bitcoin
The year brought Bitcoin, which came when the man known as Satoshi Nakamoto. He and his team are behind Bitcoin, which worked as decentralized money without any support from any central bank or government. It worked on Blockchain technology and started with little and trivial money.
2010 – The first transaction
The first transaction occurred this year when two pizzas worth 41 USD went to an IT professional from LA who paid 10K of bitcoins. Perhaps this was the start of the use of Bitcoin in the market, and it went on gradually to score more transactions here. However, this year is known to start the idea of celebrating Pizza Day in the market.
2011 – The new coin
The pizza incident proved that Bitcoin got value, and people can use it to transact. However, the same year we also saw an alternative to this currency, and Litecoin came into the picture.
2012: The Halving
The said year brought the halving process, which was the first to happen in the Bitcoin world. It decides the number of coins available after mining. The halving is somewhere that rewards Bitcoin mining, as said in the previous statements. The currency is also capped, which can help to embark upon the total number of coins in the market.
2014 – The Coinbase
The year brought the first exchange for crypto in the market, known as Coinbase. B Armstrong and F Ehrasm were the men behind launching the coin exchange. The interaction with one million users where 2014 was seen developing with it. Today, you can find it to be the biggest exchange for trading volume.
2016 – The next popular currency – Ethereum
The year brought the next big crypto into the market when a Canadian software engineer of Russian origin launched this digital coin. It gained a good buzz around the market, and we have seen good coin growth, making it a digital silver in the market.
2017 – The boom of Bitcoin Boom
By the time Bitcoin came in 2017, it was able to draw a decent attraction towards it. We saw Bitcoin came with 10K USD and started coming up on the top in the market. Several investors were bragging about more wealth and are now looking ahead with the great opportunity. Also, some top banks and investors were able to come close to it.
2019 to 2021
These three years remained on the top for crypto, particularly for Bitcoin. The market witnessed the constant growth and evolution of crypto in the market. It went to become a stable and secure option to invest in it. Many investments were seen from top institutions like Tesla, Square Inc, Microsoft and many other companies that keep moving faster. The two years also witnessed the rise and fall of Bitcoin and other cryptos, but the real surge came in November 2021. Perhaps this was when we saw the currency reaching its zenith – nearly 70 USD.
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