A Brief History of Cryptocurrency

A Brief History of Cryptocurrency
The history of these virtual currencies begins with one person: the
cryptographer David Chaum. This American developed in 1983 a
cryptographic system that he called eCash. Twelve years later, he
created another system, DigiCash, which used cryptography so that
when a person made economic transactions, they were confidential.
However, the first time the idea or term 'cryptocurrency' was coined
was in 1998. That year, Wei Dai began to ponder the idea of
developing a new form of payment that uses a cryptographic system
and whose main characteristic is decentralization.
Satoshi Nakamoto: creator of the first cryptocurrency
Do you remember the global economic crisis that started more than
a decade ago? Yes, in 2008, a financial crisis was in full swing that
affected the entire world, including the United States' superpower.
The effects of such a tremendous economic disaster were latent, and
currencies were losing value faster and faster.
In 2009, a person whose identity is still secret but who calls himself
Satoshi Nakamoto created the first cryptocurrency, Bitcoin. As you
have already read, he was not the first person who came up with the
idea of creating it.
What prompted him to create his cryptocurrency was that great
economic crisis that affected millions of citizens. The need to make
people see that there is another type of money, which is not
conventional, can also benefit from it. It is only because of his actions
that we see terms like Bitcoin Rate in India circulate in the market.
What is the current situation of cryptocurrencies?
The buy bitcoin in india are increasing more and more. Its beginnings
were not good; society did not trust much of this new form of
payment; however, that concept has changed with time. Many
companies already use it; they allow the payment of their products
and services with these virtual currencies, they even create their
own.
Two of the companies that have developed or are in the process of
developing their own cryptocurrency are the multinational
photography, design and production company, Kodak; and the
Facebook social network. The first created KodakCoin, and the
second, Libra.
Other companies are also allowing cryptocurrency as a payment
method. From hotel chains, airlines to tourist parks, they have made
the leap to the use of cryptocurrencies.
What future is predicted for these virtual currencies?
More and more cryptocurrencies are being created. It all started with
BTC to INR, but not only does that exist, but it has also developed
many more like DAVIES. It is a new cryptocurrency of just a year and
a half that has its characteristics.
The blockchain technology that cryptocurrencies use has been
gaining ground over the years. Many experts in the field predict an
excellent future both for this technology and for virtual currencies.
Some of the calculations that have been made show results whose
value reaches up to 20 million dollars. And the rise would occur in
just five years.
The studies that have been carried out show that we are only in the
early years of Cryptocurrency to INR and have a very long life left.
We are not only going to have at our disposal the traditional and
conventional money that we are used to. Virtual currencies that
emerged to revolutionize the financial and technological world are
also competing at a high level.