The History and the Story behind the cryptocurrencies
Many people have started thinking that cryptocurrencies, Bitcoin in particular, are on the edge of substituting our national currencies like the US Dollar, British Pound Sterling, Euro, Canadian Dollars, and more. That is because cryptocurrencies have begun to become very workable alternatives to traditional currency.
Since the Bitcoin was invented in 2008, the word “cryptocurrency” has entered our lives. This technology is here to remain and it will simply keep getting better. Cryptocurrency is cheaper, safer, faster and more easy to transact with, if put next to credit cards and paper money.
Satoshi Nakamoto, a genius motivated by the vision that crypto currency would one day bring liberty to the world, put out the concept of a money that was fully independent from authorities or corporations; it can possibly be purchased with government-issued legal-tender, but from this point forward it’d reduce bank and government law, surcharges, as well as other aspects which affect traditional legal tender. Its distinctive encryption methods could allow for anonymity between payer and payee, when they so desired. Digital money are its own brand new and groundbreaking financial instrument, and may be publicly traded internationally. Satoshi Nakamoto introduced his job Bitcoin into the world in ’09, marking the dawn of a new era at the background of human culture. The main break through of Bitcoin is the debut of a decentralized public ledger. The term crypto money then refers to the newest category of virtual currencies using high amount of decentralization (also referred to as peer-to-peer Internet terminology), thus much more immune to shutdown attempts.