Bitcoin Wins the Guinness World Record for First Decentralized Cryptocurrency

Bitcoin made its debut in Guinness World Records. It is now officially recognized as the “first decentralized currency”

It was included in a larger category called “cryptomania” under which many other crypto-related phenomena were also mentioned.

Famous Crypto Records

According to the latest edition of the reference book, Bitcoin is the “oldest,” “most valuable,” and “first-decentralized” cryptocurrency.

The cryptocurrency’s market capitalization has been greater than any other currency since its 2009 creation. Although there have been thousands of other cryptocurrency options, Bitcoin still dominates the market at 40%. It has a cumulative total of $370 billion.

Bitcoin is described on its online record page as a solution for the problem of the trusted third party, which was previously required to facilitate digital payment. It would be impossible to keep a fair and honest record of transactions in which people don’t spend the same amount more than once.

“The Bitcoin network solves the double-spend problem by using a “trustless” mechanism that doesn’t require any third party (e.g. banks) to verify transactions. It achieves this with validators (i.e. miners in PoW). The post reads, ”

The CryptoPunks NFT collection was renamed the “most expensive NFT collector,” when Deepak Thapliya bought CryptoPunk #5822 in ETH for $23.7 million on February 12th. Although Beeple’s artwork was sold as an NFT at $69.3 million in 2021 it did not meet the NFT criteria of “limited-edition sets” of artwork that were built around pre-renewed templates.

Manchester City Fan Token was the “most valuable fan token,” with a market capital of $47.1 million at March 24th, the book’s reference date. The token’s market capital has dropped to $24.8 million as of right now.

El Salvador was the “first country to accept Bitcoin as legal currency” in June 2021. The Central African Republic, which did the same in April this year, is the only country that has done so.

Crypto in Websters

Merriam-Webster has added crypto-native languages to its lexicon.

It included “altcoin”, which are tokens that can be used as “alternatives to existing cryptocurrencies, especially Bitcoin”, and “metaverse”, which is “a persistent virtual environment that allows access and interoperability to multiple virtual realities.”

CryptoPotato: Bitcoin wins the Guinness World Record For First Decentralized Cryptocurrency appeared originally on CryptoPotato

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Marla Brooks

Marla Brooks – Financial Analysis My name is Marla Brooks, and I am the mainstream behind the”observednews.com”  for the powerful and most delicate insights into the latest activities in the financial analysis category. I started my journey as an independent financial consultant. I had approximately nine years of experience in this field. I am free soul so; my passion for exploring the world has taken me to the nations across the globe and given me the chance to report for a portion of the best news associations. Currently, I am a full-time editor as experienced in finance and started to use my abilities.

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