10 Cryptocurrency and Blockchain Facts for the Curious Mind

0
398

Within the last decade, Cryptocurrency and Blockchain have gotten lots of attention. Many enthusiasts see the first as a freedom engine and the latter as the digital version of ‘gold’ or ‘eGold.’

Hence, this sub-category focuses on Crypto and Blockchain Facts and it is meant for the curious mind. Before getting started, let’s reveal to you ten exciting Crypto and Blockchain facts.

  1. Satoshi Nakamoto is recognized as the creator of Bitcoin and also the one to successfully implement blockchain technology. Till date, the shocking truth remains the fact that no one knows the identity of Nakamoto.
  2. In 2010, one bitcoin was just $.003. This means, for $100, you get approximately 3,333.33 Bitcoin.
  3. As at (September 2020), a single Bitcoin is worth 10,368.30 United States Dollars.
  4. If you had invested 100 dollars in purchasing Bitcoin in 2010, it would be worth $34,560,965.44 ten years later (the year 2020).
  5. Unlike the U.S. dollars, Euros and Pounds in your wallet or any other currency around the world, cryptocurrencies are not backed by a central bank or any government.
  6. There are over 1,300 cryptocurrencies, but bitcoin is always referred to as the king. It makes up around 54% of the aggregate $589 billion market cap for all cryptocurrencies.
  7. What makes blockchain technology super cool is the fact that it is decentralized. It has no major data centres where cybercriminals can attack and gain control of a particular digital currency.
  8. Vancouver city in Canada was the first in the world to have a Bitcoin ATM cash machine. This is a kiosk that allows a person to buy Bitcoin using ATM. The truth is, they do not connect to any bank account instead, to a bitcoin exchange where purchases are made.
  9. Blockchain technology has so far (from inception to 2020) managed and distributed more than $270 billion in cryptocurrency transactions.
  10. Research from Gartner says about 300 million blockchain transactions were processed safely and efficiently through the end of 2017.