Leeddev

Origin of Cryptocurrency The concept of digital currency was invented in the year 2008 by unknown entities going by the name of Satoshi Nakamoto. The currency was named Bitcoin and was made available to the public, through a process known as mining, by 2009. In the wake of the global financial crisis, Bitcoin was created as a way of decentralizing currency and handing the autonomy of money back to the people. Up until 2016, there were no reforms and policies regarding cryptocurrency in the global finances. But after 2016, the concept started gaining traction in the local as well as international markets. Rise of Cryptocurrency The first official use of cryptocurrency was when someone bought two pizzas and exchanged them for 10,000 bitcoins in 2011. Little did they know, that they were handing out something that would be worth millions today. But people really noticed bitcoin when the biggest bitcoin exchange “Mt. Gox” went off the internet, inherently stealing 850,000 bitcoins