The birth of digital currencies
Cryptocurrencies are electronic currencies, i.e., a digital asset.
They have become a popular form of investing for many people. The main purpose of these new technological currencies is to enable the public at large to buy, operate and invest in them without having to go through a bank or other financial institutions. This shows, once again, the Internet’s ability to democratise and facilitate a service.
The first cryptocurrency appeared a little over ten years ago, in the form of Bitcoin. Trying to discover its creator has proved to be an impossible task for journalists and other curious people who have attempted to do so. In fact, nobody even really knows if it was created by a person, and some believe it was started by a group.
What is a fact is that, whoever it was goes by the pseudonym of Satoshi Nakamoto, since it was with that name that the document revealing the essence of Bitcoin in 2008 was signed. Following the launching of the currency, Satoshi Nakamoto continued working on it for a time. Then, in 2011, he, she or they declared they were switching to other activities and disappeared. Researchers believe that most of the “first” Bitcoins—about 1 million—are owned by Satoshi Nakamoto.
Bitcoin was followed by Litecoin and they’re still the two most valued currencies on the market, although they’re no longer the only ones, since other cryptos such as Dash, Ripple, Ethereum or Ethereum Classic, Monero and NEO also have high market values.