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Bitcoin Added to the Guinness Book of World Records as the ‘First Decentralized Cryptocurrency’ – Bitcoin News & More Latest News

 

Since 1955 Guinness World Records (GWR) has printed a reference ebook yearly that covers world data from excessive pure occasions to human achievements. This yr, Bitcoin has entered the fray as the world’s first and most respected cryptocurrency community as GWR has added the topic to this yr’s annual data.

Satoshi Nakamoto’s Bitcoin Enters the Guinness Book of World Records

Satoshi Nakamoto’s cryptocurrency and blockchain community, Bitcoin, has acquired a quantity of accolades over the years, and it’s been acknowledged by mainstream media sources and conventional mediums. For occasion, in 2016, the phrase “bitcoin” was added to the Merriam-Webster Unabridged Dictionary, and two years later it entered the Scrabble lexicon. This yr, Guinness World Records (GWR) has given recognition to Satoshi Nakamoto’s invention as bitcoin is taken into account the “first decentralized cryptocurrency.”

Bitcoin Added to the Guinness Book of World Records as the 'First Decentralized Cryptocurrency'
Bitcoin has been added to the Guinness Book of World Records checklist this yr as it holds the report for being the first decentralized cryptocurrency to exist.

Guinness World Records has been formally recording data from varied human achievements and excessive pure occasions for 67 years. Records present the first version of Guinness World Records was the prime ebook on the best-seller checklist in December 1955. The ebook nonetheless contains a important catalog and verification of world data tied to quite a few acts and record-breaking achievements. The concept of making a ebook of data initially derived from the managing director of Guinness Brewery, Sir Hugh Beaver.

While It’s an Achievement for Bitcoin, Guinness World Records Summary Contains Errors

The abstract of bitcoin featured in the newest Guinness World Records describes how the undertaking’s white paper was printed on-line in 2008, and the Guinness authors say Bitcoin was “developed as a solution to the challenge of regulating a digital currency without any centralized organization, or ‘trusted third party,’ to oversee transactions.” The GWR authors additional element that the community Satoshi Nakamoto created solved the double spending downside. The 2022 GWR report states:

The Bitcoin community [solves] the double spend downside with a “trustless” mechanism that doesn’t require any third-party (e.g., banks) to confirm transactions; and it achieves that with validators (i.e., miners, in PoW.) Miners are computer systems devoted to the community to validate all transactions and prohibit any dangerous actors.

The class GWR researchers put Bitcoin in is “first,” as in the “First decentralized cryptocurrency.” The date recorded for the record-breaking “first” is January 3, 2009, the day Bitcoin launched. While the GWR addition is an achievement, some of the factoids offered by GWR researchers are fallacious.

For instance, it has recorded the fallacious date of publication for the unique Bitcoin white paper which was on October 31, 2008, and it erroneously cites Satoshi Nakamoto as having 600,000 BTC in a single pockets that “has been inactive for more than a decade.” This info is factually incorrect as Nakamoto’s stash doesn’t reside in a single pockets and the BTC held by the inventor is estimated to be round 1 million BTC as opposed to the 600,000 BTC quoted by GWR.

Tags on this story

Bitcoin, Bitcoin community, Bitcoin White Paper, BTC, BTC community, Dictionary, Double Spending Problem, excessive pure occasions, First Decentralized Cryptocurrency, Guinness authors, Guinness Book of World Records, Guinness researchers, Guinness World Records, GWR, human achievements, Invention, Merriam-Webster, Nakamoto’s pockets, report retaining, Records, Satoshi Nakamoto, Scrabble lexicon, Third Party, Wallet, White Paper

What do you consider Bitcoin being added to the Guinness World Records checklist as the first decentralized cryptocurrency? Let us know what you consider this topic in the feedback part under.

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Jamie Redman

Jamie Redman is the News Lead at Bitcoin.com News and a monetary tech journalist residing in Florida. Redman has been an lively member of the cryptocurrency neighborhood since 2011. He has a ardour for Bitcoin, open-source code, and decentralized functions. Since September 2015, Redman has written greater than 6,000 articles for Bitcoin.com News about the disruptive protocols rising in the present day.




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