Journey of Cryptocurrency in world market

Journey of Cryptocurrency in world market

As we talked about what is cryptocurrency in our previous article the next key and thrilling interrogations are, from where does cryptocurrency originated? who were the founders? and journey of cryptocurrency so far. To get the profound understanding of today’s crypto world it is vital to know chronicle evolution of digital currency.

Technical Establishment

The technical seed of cryptocurrency is being sowed back in 1980’s by American cryptographer David Chaum. He used ‘Blinding’ algorithm to produce a unit of currency which was known as ‘Blinding Money’.

During 1990’s when David was busy experimenting Digicash, Wai Dai well-grounded software engineer revealed white paper on b-money. It shows analogy to a modern virtual currency such as decentralization and complex protection. Subsequently, David developed a new cryptocurrency named Bit Gold which later became prevalent for using blockchain technology. Bit Gold is obsolete now.

Pre- Modern Virtual Currency

Later in the 1990s and 2000s after Digicash and Bit Gold, PayPal and e-gold significantly gain over a market. PayPal emerged clear conqueror with peer to peer transfer mechanism and familiar web browser. E-Gold parallel was getting prominence, however, lax security protocol led to shut the uses of E-Gold.

Emerging Modern Cryptocurrency

The first and widely accepted cryptocurrency was published in 2008 in a white paper by Satoshi Nakamoto, a pseudonymous person or group. In 2009 released bitcoins recognized by enthusiastic supporter and they began exchange & mining of coin to a greater extent.
In late 2010, the triumph of bitcoin spawned other virtual currencies such as Litcoin, Ethereum, Ripple etc. According to researchers, between 2.9 to 5.8 million unique users are using a cryptocurrency wallet as of 2017. Within the next few years, cryptocurrency will become popular enough for mainstream adaptation.

New Age Cryptocurrency

Money Trade Coin is set to start a race with bitcoin for crypto world dominance and popularity. Money Trade Coin has multiple benefits associated with it such as partially pre-mined coins, e-secured wallet, the ease in mining and it follows AML and KYC norms for investor’s security.

Cryptocurrency is an exciting concept with fundamental power to commute over fiat currency for better. World is waiting to witness the dynamic change!
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