Bitcoin’s 13th Birthday: A Day Worth Celebrating

Exactly 13 years ago, a groundbreaking innovation emerged on the global platform and was called as “cryptocurrency” and named “Bitcoin”. The name given to the first cryptocurrency of the world was by its inventor which went by the name “Satoshi Nakamoto”. The name was “Bitcoin” was visible on the face of the white paper which was published on 31st October 2008 i.e. on Halloween.

The world needed Bitcoin for developing more than a thousand plus cryptocurrencies thereafter. Today, there is a large population within the business community who are relying on these cryptocurrencies. Cryptocurrencies are now regarded as “assets” that are tradable, saleable, purchasable, investable etc.

The day is once again upon the world and there is every reason for everyone to celebrate the day.

It was about 2:10 pm on 31st October 2008 when Nakamoto issued the white paper spreading over 12 parts. The paper described what is Bitcoin, how it will be developed and then supplied and what particular technology would be required. As per the white paper, Bitcoin is a form of “cash” which is rather electronic money. The paper described that electronic money will be used to transfer of funds online without the involvement of any bank.

When Nakamoto issued the paper, economic experts and computer geniuses around the world didn’t believe that this could be possible. In fact, for many years, they were trying to achieve what Nakamoto had actually achieved and explained on 31st October. Otherwise, it was regarded as an unsolvable problem and named as “Byzantine generals” which haunted computer scientists for multiple decades. But the document of Nakamoto was comprehensive. It had all the answers which the scientists would need to be convinced.

On that day, Nakamoto said to the scientists that Byzantine general has been successfully solved. He told people that the inventor has done the job now it is up to the people to make good use of it. The scientists then started working on the Bitcoin white paper for putting it to the test. Amazingly, each scientist came to agree with each and every content of the white paper, without raising an objection. The white paper presented the case and it was tested and proven correct. The foundation was actually laid down and it was time to launch the world’s very first cryptocurrency, Nakamoto’s “Bitcoin”.

So finally on 3rd January 2009, Bitcoin was eventually launched in the open market, and the public was invited. The launch of Bitcoin was in fact the fraction of the huge beginning. Thereafter there was a mushroom growth of multiple blockchain networks. More cryptocurrencies were making their ways into the digital currency world. Now today we have more than a thousand cryptocurrencies, each having their own individual values. Bitcoin is the ultimate pioneer of digital asset industry and therefore celebrating its birth is an event to be celebrated by all.

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