Bitcoin Inducted Into the Guinness World Records As First Decentralized Cryptocurrency

Guinness World Records (GWR) has given Bitcoin (BTC) recognition as the first decentralized cryptocurrency. 

The franchise, which has been documenting record-breaking facts and achievements since 1955, traces the origin of Bitcoin to the Cypherpunks, an online community formed in 1992 whose members first discussed the concept of cryptography-based digital currency.

GWR also names Satoshi Nakamoto, believed to be involved with the Cypherpunks community, as the pseudonymous creator of the oldest cryptocurrency.

Nakamoto first described Bitcoin in a white paper published online on August 18, 2008.

“A working implementation of the concept was completed by 3 January 2009, when Nakamoto mined the first block on the blockchain, and the open-source client was released to the public on 9 January 2009.”

The globally-recognized authority of world records says Bitcoin was developed to address the challenge of regulating a digital currency without the need for a centralized organization or trusted third party to oversee transactions.

Bitcoin’s induction into the Guinness World Records comes just over a month after the Merriam-Webster dictionary added the words “altcoin” and “metaverse” in its reference pages.

The oldest dictionary publisher in the United States added the term “Bitcoin” in its listing in 2016 and the word”cryptocurrency,” “initial coin offering” and “blockchain” in 2018.

At time of writing, Bitcoin is trading at $19,180, up over 19,180,000% from when it was under a penny in 2011.

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Featured Image: Shutterstock/Skorzewiak

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