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Cryptocurrency is digital money that has nothing to do with control and taxation by government agencies, has its own volatility, but nevertheless, it is limited in terms of production and use. It is important to understand that in the current realities, the word bitcoin and cryptocurrency are the same name.
The idea of online payments was first proposed in 1983, when entrepreneurs David Chaum and Stefan Brands created the concept of “electronic” money. However, more than a serious project then did not work out.
In 1997, Adam Bakov already continued the development of this technique, when, in the wake of the progress of computers and electronics, it became clear that a secure payment system was required. The Hashcash platform put blocks on the blockchain, although its real focus was against spamming DoS attacks. Further, Hal Finney introduced chains for the hash blocks of the Hashcash system.
Today, there is already not only the bitcoin blockchain, but also others, on the basis of which new cryptocurrencies have been released. In particular, Ethereum, the second largest cryptocurrency by capitalization, has its own blockchain. Moreover, Bitcoin itself already has so-called “forks” – when the principle of verifying the authenticity of a block in the blockchain chain changes, and a new cryptocurrency appears. This is how Bitcoin Cash and Bitcoin Gold were born. And from the ether, as its “fork”, Ethereum Classic broke away. All these cryptocurrencies are available in the Matbi wallet-exchanger. As well as many other coins.
On “Matbi”, after a quick registration by phone number or email, anyone gets wallets for storing cryptocurrencies. Security is provided by a three-factor authentication procedure. This is when three codes are required to confirm the operation: pin, from SMS and from email.
By transferring the cryptocurrency to “Matbi”, you can sell it at the current rate, or buy more. All transactions are carried out automatically 24 hours a day. All operations can be carried out on the website or through a mobile application available in the Play Market and Apple Store.
Thanks to such exchangers-wallets as “Matbi”, today anyone can join the cryptocurrency sphere. But this moment was preceded by a rather long history.
If the user has any questions, the Matbi team has prepared a detailed video instruction.
The advent of Bitcoin
And only in 2007, Satoshi Nakamoto organized work on the creation of a cryptocurrency, which was supposed 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 Malmi made an exchange of crypto money for fiat money. In 2009, cryptominers appeared who attracted other people to the development of the platform.
- In 2010, Bitcoin version 0.3 was released, where the mining process was complicated, which involved the use of more and more computer resources. In the same year, the first mining pool was held, after which a huge income was received for a group of miners who joined forces.
- In 2011, Satoshi Nakamoto left the project.
- 2013 became a “golden age” for users, and 2017 showed itself from the best side of the cryptocurrency system – the exchange 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 taking a law on the status of bitcoin as a legal payment method, and Russia has announced that it is ready to use cryptocurrencies. An online bank from Norway combines bitcoin accounts with regular financial accounts. Trading on the stock exchange is increasing. The trading volume was increased by 1500%.
- In 2019, the bitcoin rate increased to $4,000, and in the summer of the same year it increased to $11,000.
At the moment, the growth of the cryptocurrency has resumed, and bitcoin has risen in price to $36,000. According to experts from in 2021 this growth can reach up to $318,000 per bitcoin.