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Bitcoin Lists In The Guinness Book Of World Records

Bitcoin has been named in the Guinness World Records as the “first decentralised cryptocurrency.” This achievement was previously held by ethereum. It was included as a subsection under a much bigger category that was referred to as “cryptomania,” under which a wide variety of other blockchain-related phenomena were discussed.

As stated in the most recent version of the reference book, Bitcoin is the “oldest,” “most valuable,” and “first-decentralized” cryptocurrency. The underlying technology of bitcoin is blockchain, a ledger system that maintains a continuously growing list of data records hardened against tampering and revision.

Since its revolutionary introduction in 2009, the cryptocurrency has maintained its position as the one with the highest market capitalization among all others. Even if hundreds of other cryptocurrencies have come into existence over the course of time, Bitcoin still controls over forty percent of the market and has a total worth of over three hundred and seventy billion dollars.

Bitcoin is presented as a solution to the issue of the “trusted third party,” which was historically necessary in order to conduct digital payments, on the page of its online record that is publicly available. A just and honest record of transactions could not be kept up to date otherwise since it would be impossible to prevent individuals from spending the same amount of money more than once.

As of the 24th of March, the reference date given in the book, the “most valuable fan token” was the Manchester City Fan Token, which had a market valuation of $47.1 million at the time. As of right moment, the total value of the token on the market has fallen all the way down to only $24.8 million.

In June of 2021, El Salvador became the “first nation to embrace Bitcoin as legal money,” earning them the title of “first country to earn the record.” The Central African Republic is the only other nation that has done the same thing so far, and they did it in April of this year.

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Jeewan Singh is CryptoShrypto’s content writer and a seasoned writer with over two years of experience in writing about Indian Securities Market. Jeewan's participation in Blockchain and Cryptocurrency started in late 2020, and he hasn't looked back since. The technical and economic outcomes of cryptocurrency are what spark his curiosity, and he keeps one eye on the market.
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