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Up to this day, the same, original, largest blockchain is still the one that runs and facilitates transactions in the Bitcoin network. Aside from Satoshi Nakamoto, as we saw, another notable personality in the development of blockchain and cryptography is David Chaum. Apart from pioneering cryptography and privacy-preserving technologies, the invention of digital cash also gets attributed to David Chaum.
The year after the release of a white paper, Satoshi Nakamoto developed the first blockchain in the form of a public ledger for transactions using Bitcoin was implemented in Hence, the birth of Blockchain 2. In the same year, the Ethereum blockchain network introduced Smart Contracts, integrating computer programs that represent financial instruments like bonds into the blockchain technology.
Monero, the ultimate privacy coin, was also released in on April 18th. In , Coinbase also became the first U. Since then, Coinbase has grown into the largest cryptocurrency exchange in the United States. First, there was Bitcoin Cash which was released in August. It aimed to reduce the volatility of transaction fees that were plaguing the Bitcoin network by increasing the maximum block size.
This reduces the cost of a transaction by allowing larger blocks of data to transfer with a single transaction. Next came the release of Cardano in September. Cardano differentiates itself through its heavily researched and peer-reviewed whitepaper helping to establish credibility for smart contracts built on the network.
So what could 5, Bitcoins get you? Probably, you could grab yourself a couple of pizzas, right? Ten years ago, this could be possible since the coin value was still very low. Right now, with that many coins in your digital wallet, you can easily buy yourself a private jet and a good apartment.
The Bitcoin value experienced a surge in and immediately moved from being obscurity right into being recognized by the mainstream platform. Thanks to the recognition by top brands, the coin has steadily been experiencing a rise in value. Ever since the surge, many people have been interested in the cryptocurrency idea leading many to invest and use Bitcoin more. Bitcoin gambling platforms have cropped up and are becoming a favorite to many.