Crypto Mining Blog

Another first for crypto and Bitcoin (BTC), now an official world record as Bitcoin has been officially added to the Guinness Book of World Records as the first decentralized cryptocurrency.

The first decentralized cryptocurrency was Bitcoin, which was described in a white paper published online by “Satoshi Nakamoto” on 18 August 2008. A working implementation of the concept was completed by 3 January 2009, when Nakamoto mined the first block on the blockchain, and the open-source client was released to the public on 9 January 2009.

Bitcoin was developed as a solution to the challenge of regulating a digital currency without any centralized organization, or “trusted third party”, to oversee transactions. Earlier attempts at creating digital currencies used similar cryptographic techniques to identify users and log transactions, but still required a trusted third party (acting like a bank) to make sure that people didn’t “double spend” – that is, spend the same money more than once.

– More on the Bitcoin’s addition to the Guinness Book of World Records….