- Bitcoins white paper was published 11 years ago.
- Today it is one of the largest and safest computer networks.
Bitcoin has turned 11 today. Someone known as Satoshi Nakamoto published biotin’s white paper on October 31 in 2008, and thus the new history of money began.
Bitcoin’s blockchain was deemed as the first-ever peer-to-peer payment system, created in a response to the global financial crisis that erupted in 2008 and caused many financial losses mainly to ordinary people.
While central banks and governments spent taxpayers money to save too-big-to-fail institutions with unsustainable financial practices, people lost jobs and were forced out of their houses as they could not pay mortgages.
Bitcoin was supposed to become a payment system for people, that does not require banks, governments or any other middlemen.
A lot has changed since that time. Now there are over 2,000 digital coins and tokens of all sorts and kinds, while the total market value is close to $250 billion. Moreover, ahead of this day, the aggregate value of all paid fees on bitcoin’s network surpassed $1 billion
“It’s official. The Bitcoin network has surpassed 1 billion USD in cumulative fee revenue,” Yassine Elmandjra wrote on Twitter account.
To date, the bitcoin blockchain is considered to be one of the safest and hack-resistant computer networks in the world. Its computing power exceeds 90 EH/s.
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