History of Virtual Currency Development
The history of the development of virtual currency is about the germination of currency and economic freedom. Virtual currencies with various characteristics are constantly being created. The trading market goes back and forth between skyrocketing and crashing. The history of the system.
Let us look at the history of virtual currency development from the historical timeline. The first part is about Bitcoin and market changes. On January 3, 2009, the Bitcoin genesis block was dug up by Satoshi Nakamoto, marking the birth of the first virtual currency; in December of that year, the first transaction in history appeared on the Bitcoin network. Three months later (2010.02), Bitcoin Market appeared as the first virtual currency trading platform, and one month later (2010.04), it was publicly traded at a price of 0.03USD/1BTC. One year later (2011.02), Bitcoin was on par with the euro and the British pound. In May 2013, the first cryptocurrency market crashed, with prices rising from $13 to $220 and then down to $70. In February 2014, Mentougou went bankrupt, and the whereabouts of more than 850,000 BTCs were unknown; in September, TeraExchange launched the first Bitcoin OTC swap transaction approved by the US Commodity Futures Trading Commission; in December, Paypal, Microsoft and many other public companies Bitcoin payment accepted. Bitcoin hits $20,000 in December 2017
The second part is about the history of other important virtual currencies. In October 2012, Litecoin was released, opening the era of Bitcoin altcoins. In July 2013, Mastercoin became the first ICO project; in November, Vitalik Buterin released the Ethereum white paper, and proposed the ERC-20 token standard (2014.11) in the following year. Four years later, Ethereum created the More than 100,000 ERC20 tokens (2018.07). Back in 2014, in July, BitShares launched its first stablecoin, BitUSD. In June 2015, EOS started a one-year ICO, which eventually raised $4 billion, making it the largest ICO project in history so far. In August 2017, Bitcoin forked out the largest forked currency so far - BCH; in December - MakerDAO launched DAI, marking the beginning of decentralized finance. In January 2018, the total market value of cryptocurrencies reached a peak of US$800 billion; in August, the parent company of the New York Stock Exchange released Bakkt, a virtual currency exchange subject to federal regulation, announcing the successive entry of traditional financial players. In June 2019, Facebook released Libra, demonstrating the Internet giant's determination to break through traditional financial barriers.
The third part is about regulators in the history of virtual currency development. In August 2013, the U.S. Federal Court issued an opinion that Bitcoin is a currency or a form of currency; in June 2014, the New York State Department of Financial Services released the final version of its BitLicense virtual currency regulations, which profoundly affected this financial capital In September 2017, China banned ICO (9.4), setting the tone (that is, discouraging) the development of various virtual currencies in China. The history of virtual currency development has been ups and downs. This article is just a collection of pearls from the vast sea. If you are interested, you can read more about the "currency history" and learn from history.
