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Rachel Welch

27 September 2022 217 Read Crypto


The History of Crypto

If you're interested in the history of the cryptocurrency industry, you've probably come across the terms Bitcoin and Initial Coin Offerings (ICOs). These are terms that are often used to refer to new projects that are trying to raise funds. While these ICOs may sound like get-rich-quick schemes, they actually lay the groundwork for new and innovative products.


The History of Bitcoin traces its roots back to the 2008 financial crisis, when Satoshi Nakamoto created Bitcoin. This decentralized currency is backed by millions of computers around the world. Because it is not backed by a central bank, it is free from third parties and transaction fees. Instead, transactions are verified by cryptography, and the transactions are recorded on a public ledger called the blockchain.

Initial Coin Offerings (ICOs)

Initial Coin Offerings (ICOs) are a popular way to get into cryptocurrencies. To invest in an ICO, you'll need to create an account and send a certain amount of cryptocurrency. Typically, ICOs accept Bitcoin or Ethereum as forms of payment. You can find upcoming ICOs on a calendar and review the details of each offering.

Satoshi Nakamoto

Satoshi Nakamoto is a mysterious person who released the first bitcoin software thirteen years ago. It has since grown to over $1 trillion in value and has become an incredible phenomenon. While the person behind Bitcoin remains a mystery, there is a very good chance that he or she is British. In a 2008 paper, Satoshi Nakamoto described a new form of electronic cash and outlined the process for a blockchain system. At the time, many cryptographers were skeptical, but Satoshi Nakamoto took the idea and made it a reality.

Mt. Gox

In 2013, the Mt. Gox crypto exchange began experiencing long delays in the withdrawal of customer funds. It had been processing between 300,000 and one million dollars per day. That is a huge amount of money to process. Just a month before, Mt. Gox was processing up to ten transactions per day.