No matter cryptocurrency has gained much popularity ever since the inception of Bitcoin on 3rd January 2009, still this newer monetary concept is like a mystery for many. But it hardly matters, as now it has established its importance, globally. Well, the only person who deserves to be applauded for such huge fame is none other than the founder of Bitcoin, Satoshi Nakamoto. Had he not developed the idea of Bitcoin, we would have never experienced cryptocurrency memes. So all kudos to this pseudonym founder. Now since it has gained much applause for being a unique decentralized technology, let us explore some of the fascinating cryptocurrency facts in this blog.
Purchase Of Most Expensive Pizza
Pizza! As soon as this word comes, one can imagine the delicious junkie triangle food. But how come it is associated with cryptocurrency facts? It reveals the rising journey of Bitcoin as a successful cryptocurrency. The first transaction of this popular cryptocurrency dates back ten years ago on May 22, when the payment of two Papa John’s pizzas was made at 10K Bitcoins by the person named Laszlo Hanyecz. It all happened in 2010, with the rising of one Bitcoin value.
5K Multiple Cryptocurrencies
The success of Bitcoin is the underlying factor behind the rising wave of cryptocurrencies and letting them becoming future assets. That is why we can experience the emergence of newbie currencies. Believe it or not, according to cryptocurrency facts, there are around 5K different cryptocurrencies, worldwide. But not all these cryptocurrencies need to match the success of Bitcoin.
Many of the coins had failed in the past, but that did not raise the question mark on the existence of altcoins. There are worthy altcoins like Ethereum, Dash, Litecoin, Bitcoin Cash, etc. However, none of these altcoins has been successful so far in dethroning Bitcoin from the kingship of cryptocurrency, but who knows what can happen in the future.
Ethereum: The Closest Competitor To Bitcoin
Continuing our exploration of fascinating cryptocurrency facts, we have mentioned above that no altcoin has dethroned Bitcoin from its kingship, but there is one close competitor that cannot be underestimated. It is Ethereum. It is the second-most popular cryptocurrency after Bitcoin that has a market capitalization of $17.1 billion.
The brainchild of the idea behind this altcoin in 2013 is Vitalik Buterin, a programmer and a cryptocurrency researcher. He aged too young (19 years) at that time. In mid-2015, Ethereum went live and reached over a million transactions each day. Do you besides Bitcoin, this second-most popular cryptocurrency is under the eye for crypto ‘whales’.
Limited Bitcoin Amount
Yes, you heard it right, the amount of Bitcoin is limited due to halving. This is the main reason why investors express much interest in knowing Bitcoin uncertain price. When the supply becomes down, the price of Bitcoin tends to increase. This has made many investors thinking about the limited Bitcoin supply in the coming years. So grab your Bitcoins as much as you can!
So these are some of the fascinating cryptocurrency facts that you must be knowing. In this blog, I have mentioned about the first journey of Bitcoin as a transaction with the purchase of two Bitcoins at 10K amount. Also, there has been mention of Bitcoin’s closest competitor, Ethereum. No matter, it is very difficult to dethrone Bitcoin from its kingship of cryptocurrency, but it will be wrong to underestimate worthy altcoins, like Litecoin, Dash, Monero, Bitcoin Cash, Neo, and especially Ethereum. There are many more important facts and updates about the 2020 block talk summit which you can find on websites like Cryptoknowmics.
Also Read :: The Ultimate Guide for Selecting Cryptocurrency