Bitcoin has completed 11 years since the release of its official whitepaper. Here’s a brief journey about the crypto and its growing popularity.
Today, October 31, marks the 11th birthday of Bitcoin after its founder Satoshi Nakamoto unveiled the whitepaper back in 2008. Over the last 11 years, Bitcoin has established its supremacy in the crypto market as the world’s largest cryptocurrency by market cap.
At the time of writing, Bitcoin is trading at a price of $9103 with a market cap of $164 billion. Furthermore, Bitcoin alone continues to dominate over 65% of the overall market cap.
Bitcoin, a decentralized peer-to-peer electronic cash system emerged as an alternative to the traditional banking sector. Based on the blockchain technology, Bitcoin offers a robust, transparent and low-cost way to transfer funds instantly anywhere across the globe.
Over the last few years, Bitcoin developers have been working hard to accommodate more users in its ecosystem. Scalability solutions like Lightning Network have been successful in expanding the Bitcoin ecosystem while further work continues in this direction.
If we look at the Bitcoin journey over the last decade, Bitcoin has been through multiple cycles of gloom and doom. However, it has managed to stay strong against multiple headwinds giving its investors returns of several thousand percentages. Read More...