Cryptocurrencies are digital currencies that are not issued by governments. You can buy and sell things with cryptocurrency just like you can with regular money, and you can also invest in it through companies like the Noble Institution. Read on to learn more about the history of cryptocurrency!
Invention of Bitcoin
The first cryptocurrency was Bitcoin, invented by a person calling himself Satoshi Nakamoto. Nakamoto claimed to be from Japan and to have been born on April 5, 1975, but both of these details could easily be fictional as “Satoshi Nakamoto” seems to have been a pseudonym.
Whoever Satoshi Nakamoto really was, he posted a paper with the title “Bitcoin: A Peer-to-Peer Electronic Cash System” in October 2008 on an email list about cryptography. Nakamoto claimed to have invented the first practical and decentralized digital currency. He released the software in January 2009, then handed over the source code for Bitcoin to a programmer named Gavin Andresen in 2010. Satoshi Nakamoto then seems to have stepped away from the Bitcoin project.
Blockchain Technology
All cryptocurrencies rely on the blockchain technology invented by Satoshi Nakamoto. A blockchain is a decentralized public ledger of transactions, updated automatically to reflect new transactions. This ledger is stored in a number of different nodes simultaneously, and no user can change the blockchain without all other users being aware of the change. Users are hidden behind digital “keys,” so it isn’t easy to find out who made a particular transaction.
Other Cryptocurrencies
Bitcoin was only the first of many digital currencies. Bitcoin was followed by Litecoin and Namecoin in 2011, then by Peercoin in 2012. 2013 saw the release of Dogecoin, Gridcoin, Primecoin, Ripple, and NXT. Many more cryptocurrencies have been invented since then, notably Ethereum and Tether in 2015, Cardano in 2017, and Solana in 2020.
You can trade in many different cryptocurrencies these days, and there’s always the possibility that the cryptocurrency you invest in could massively increase in value.So, how do you get started with cryptocurrency? Contact The Noble Institution at 1-833-645-1535and we’ll show you how it’s done!
