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#BinanaceTournament HISTORY OF CRYPTOCURRENCY: THE IDEA, JOURNEY, AND EVOLUTION The history of cryptocurrency isn’t long, but it’s arguably one of the most fascinating stories of the 21st century. Bitcoin became a household name from relatively obscure beginnings, and the total crypto market cap hit the $3 trillion mark in 2021. If Bitcoin achieves global reserve currency status, the history of cryptocurrency may soon be essential reading in Economics 101 courses. Those who want to stay ahead of cutting-edge trends should review the high points in the history of cryptocurrency. The idea of cryptocurrency Many people are surprised to learn the idea of cryptocurrency began decades before the 2008 Bitcoin whitepaper. Although Bitcoin remains the most successful crypto to date, many failed projects led to its creation. Some tech historians claim Dutch researchers were the first to dabble with digital currencies, but most agree that UC Berkeley’s David Chaum was the pivotal figure in crypto’s early Bitcoin’s price skyrocketed during 2017-2018. For the first time in history, it soared through the $10,000 range and briefly touched $20,000 before falling into a “crypto winter.” During this time Although crypto is still dealing with scams and hacks, it has come a long way from its Silk Road days. As more people appreciate the use cases of projects like Bitcoin and Ethereum, it’s unlikely the crypto industry will fade away. However, since crypto has grown so large, it’s more likely to attract attention from central regulators. More governments and central banks will likely introduce new policies as more people demand access to crypto. Another company aims to greatly impact the crypto world by carving its niche in the evolution of cryptocurrencies. Enter Worldcoin. We aim to put a share of our crypto in every individual’s hands by maintaining their anonymity and privacy. We’re also airdropping free DAI to anyone who downloads our app. You can learn more about our ambitious project by subscribing to our blog.
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