A Brief History of The Creation and Development of Cryptocurrencies

Cryptocurrency is digital money, which is not connected in any way to control and taxation by state structures, has its own volatility, but nevertheless, it is limited in the positions of extraction, as well as use. It is important to understand that in today’s realities, the word bitcoin and cryptocurrency are the same name. Also, nowadays appeared casinos with cryptocurrency as a payment method, so you can play crypto casinos here.

The idea of online payments was first proposed in 1983, when entrepreneurs David Chaum and Stephan Brands created the concept of “electronic” money. However, more than a serious project didn’t work out at the time.

In 1997, Adam Bakov already continued the development of this methodology, when, with the wave of progress in computers and electronics, it became clear that a system for secure payments was needed. The Hashcash platform laid the formation of blocks in the blockchain, although its real focus was focused against spamming DoS attacks. Next, Hal Finney introduced chains for hash blocks of the Hashcash system.

On Matbea, after a quick registration by phone number or email, anyone can get wallets to store cryptocurrencies. Security is ensured by the three-factor authentication procedure. This is when three codes are required at once to confirm the operation: pin, from sms and from email.

Transferring cryptocurrency to “Matbea”, you can sell it at the current rate, or buy more. All transactions are performed automatically 24 hours a day. All transactions can be performed on the website or through a mobile application available in Play Market and Apple Store.

Thanks to exchangers-wallets such as “Matbea”, today anyone can join the cryptocurrency sphere. But this moment was preceded by quite a long history.

In case the user has any questions, “Matbea” team prepared a detailed video instruction.

The emergence of Bitcoin

It was not until 2007 that Satoshi Nakamoto organized work on the creation of the cryptocurrency, which was to work on the principle of a peer-to-peer network. In 2009, the first block and 50 coins were prepared and a transaction was made. The amount was 10 BTC.

In 2009 Marty Malmy exchanged cryptocurrencies for fiat money. In 2009, cryptominers appeared, attracting other people to develop the platform.

In 2010 Bitcoin version 0.3 was released, where the mining process was made more complex and involved the use of more and more computer resources. The same year the first mining pool was held, after which a huge income was generated for the group of miners who joined forces.

In 2011 Satoshi Nakamoto left the project.

2013 was the “golden age” for users, and 2017 proved to be the best year for the cryptocurrency system – the rate and capitalization of bitcoin increased up to 20 times, and the crypto market in general – 34 times. In 2017, bitcoin becomes legitimate among lawmakers and financial companies. Japan is undertaking legislation to make bitcoin a legal payment method, and Russia has announced that it is ready to use cryptocurrency. An online bank from Norway is merging bitcoin accounts with regular financial accounts. Trading on the exchange is increasing. Trading volume has been increased by 1,500%.

Bitcoin rose to $4,000 in 2019 and rose to $11,000 in the summer of that year.

Bottom line

At the moment, the growth of cryptocurrencies resumed, and bitcoin rose to $49265, Despite the decline in its price before that, experts believe that in 2022, Bitcoin may be worth more than $100,000. And if Bitcoin rises in price, other cryptocurrencies will follow.