How the history of cryptology has changed

Olena Dubchak

Olena Dubchak

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May 8, 2020
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Cryptovalues have long ago become something that many of us are used to - something that is constantly on hearing. The industry has experienced more than one leap in recent years; let us remember how it was.

Bitcoin creation

It all started incredibly long ago, in 2009. That's when an unknown until now developer under the pseudonym Satoshi Nakomoto developed and published the world's first crypt currency.

For a long time Bitcoin was known only in a narrow circle of users, among whom programmers and developers dominated. The coin was used only in a limited way, and its course was insignificant by current standards.

This lasted until 2013: around that time the rate started to change and grow rapidly, periodically maintaining a stable price. The next jump took place in a couple of years, and in 2017 the price of the VTS reached its historical maximum: almost $20 thousand per coin.

Numerous followers

A couple of years after the launch of Bitcoin, numerous developers began to catch fire with the idea of creating something similar. Some projects were completely identical, others sought to smooth out the technical flaws of their predecessor.

Many of those projects have failed with a crackle as garbage, but others are still alive and well. Some of them:

· Ripple;

· Ethereum;

· Dash;

· ZCash;

· Monero and others.

What's interesting is that programmers' ideas don't run out. Blokchain turned out to be a surprisingly versatile technology that can be successfully applied in different spheres of human activity, so the field for experiments is quite vast.

In the last couple of years, this trend has not gone away - even vice versa. We see a lot of new violcoins and interesting technologies.

Thus, Yoda X project appeared quite recently and has already managed to impress the community with its peculiarities. The platform allows to receive passive income to coin holders - it can be compared to a bank deposit. You can already buy currency on some exchanges - for example, LiveCoin.

Architecture arouses a certain interest and makes you look at yourself, although it's too early to talk about some stunning prospects.

Popularize

Bitcoin began to be talked about in the masses around 2014: at first the possibilities of its use were very limited. Over the years, crypt currency began to attract more and more interest in society.

If ten years ago it was almost impossible to spend Bitcoin or altcoins, now the number of companies adding payment gateways for cryptocurrency is relatively large. You can buy something for digital coins at some Subway and KFC restaurants, Microsoft's online store and local points.

As for the blockchain, the field of application is even more extensive. Samsung, Walmart, Facebook, Google and many other companies are actively introducing it into their business to make it more modern and comfortable.

Some universities have even developed areas of training related to cryptocurrencies. For example, at Stanford, Massachusetts University and the University of Singapore.

Legal status

The question of the legal status of cryptovalues has become particularly acute in the last few years, when their popularity and the number of applications have increased many times. This is due to a number of problems - first of all, anonymity, which can be simplified:

1. Money laundering;

2. Financing of terrorism;

3. Selling drugs and other illegal businesses

. The regulation varies from country to country: the SEC in the U.S. is friendly to the industry, but sets a number of fairly strict requirements for developers and exchanges. Some Asian countries have banned or proposed bans on ICOs (investment fees for start-ups) and even on digital currencies in general.

One thing is clear: developing a flexible set of laws for this niche is not easy.

Now.

Now, in 2020, the cryptovolta market continues to develop actively, and the demand does not think to disappear. We see new promising projects, interesting solutions and gradual introduction of these technologies into our everyday life.

We want to believe that it will last a long time, because digital assets are a great tool not only for regular use, but also for earning.
 

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