Do you know the first transaction that was made by cryptocurrency was for 10,000 bitcoins for 2 pizzas?
The journey of cryptocurrency started in the year 2008. In 2018, the Reserve bank of India stated cryptocurrency was not legal and stated banks to stop using cryptocurrency. But in the year 2020, cryptocurrency became more popular amongst Indians, and the Supreme court of India resumed all the transactions related to cryptocurrency.
Bitcoin (BTC) is the first cryptocurrency, created by Satoshi Nakamoto in 2009. Bitcoin is built on a blockchain, a distributed ledger that records transactions across multiple computers. Bitcoin is maintained private and safe from fraudsters because updates to the distributed ledgers must be confirmed by solving a cryptographic problem called proof of work.
Bitcoin comes into our mind once we hear cryptocurrency but there are several other cryptocurrencies with good potential.
The Ether token, which is based on the Ethereum blockchain, has become a cornerstone of the cryptocurrency world. Ethereum pioneered blockchain security and utilization, and its smart contracts have since become a substrate for various applications.
Tezos is among the most popular cryptocurrencies for social interaction among crypto investors in the very volatile cryptocurrency market. It’s a free and open-source platform that aims to remove roadblocks to blockchain adoption for digital assets and apps. Tezos is a low-energy blockchain that allows artists, entrepreneurs, brands, and others to interact with a DApps network.
Binance Coin is a cryptocurrency that may be used to trade and pay fees on Binance. Binance Coin has grown beyond simply conducting deals on Binance’s exchange platform since its introduction in 2017. It may now be used for trade, payment processing, and even travel booking. It may also be traded or converted into other cryptocurrencies.