Bitcoin Makes Way Into Guinness World Records (GWR)

• According to GWR’s report, Bitcoin is the “First decentralized cryptocurrency.”
• Bitcoin (BTC) is down 1.08% and is now trading at $19,204.

Bitcoin, Satoshi Nakamoto’s cryptocurrency and blockchain network, has been widely praised and acknowledged by both online and offline media outlets.  Because of bitcoin’s status as the “first decentralized cryptocurrency,” Guinness World Records (GWR) recognized it this year.

In its 67 years of existence, Guinness World Records has been the official recorder of extraordinary human feats and rare nature occurrences.

Falls Under ‘First’ Category 

According to the Guinness writers, Bitcoin was created as a solution to the difficulty of regulating a digital currency without any centralized organization, or ‘trusted third party,’” and the project’s white paper was released online in 2008. The GWR writers add that Satoshi Nakamoto’s network eliminated the possibility of double spending. 

According to the GWR report for 2022,

“The Bitcoin network [solves] the double spend problem with a “trustless” mechanism that does not require any third-party (e.g., banks) to verify transactions; and it achieves that with validators (i.e., miners, in PoW.) Miners are computers dedicated to the network to validate all transactions and prohibit any bad actors.”

According to GWR’s report, Bitcoin is the “First decentralized cryptocurrency,” which falls under the “first” category. When Bitcoin was released on January 3, 2009, it became the official date of the world’s first.  The GWR expansion is noteworthy, however not all of the information offered by GWR experts is accurate.

Cryptocurrency prices have dropped again. As of now, the total value of all cryptocurrencies on the market has decreased by 0.79 percent, to $924.03 billion. Moreover, Bitcoin is down 1.08% and is now trading at $19,204.

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