As we said in the last class, during the period from 2011 to 2014, blockchain technology entered China, and the mining industry began to rise gradually in China. In addition, the foreign blockchain industry is also developing continuously. However, the foreign blockchain industry has chosen another path-that is digital currency.
Time goes back to 2011. In this year, Satoshi Nakamoto completely disappeared in the blockchain world, and the development authority of Bitcoin fell to Gavin Andresen, the successor of Satoshi Nakamoto at that time. The first thing Gavin Andresen did after taking office was to disperse the management authority of Bitcoin to other members of the core development team Core, thus beginning the era of complete decentralization of Bitcoin.
Not long after this happened, on September 27, 2012, in order to regulate, protect and promote the benign development of Bitcoin, the Bitcoin Foundation was formally established. And this foundation will play a role that cannot be ignored for the compliance of Bitcoin and the development of the community in the future.
Later, on November 28, 2012, Bitcoin ushered in the first halving event in its life. Bitcoin mining rewards were reduced from "50 Bitcoins per 10 minutes to 25 Bitcoins". So far, it has launched its first peak in history.
In the following time, the price of Bitcoin began to rise rapidly. Although there were some negative events in the middle, such as the theft of the exchange, the leakage of keys, etc., it still did not affect the continuous rise of the price of Bitcoin.
Finally, on November 29, 2013, the price of Bitcoin reached its peak, surpassing gold for the first time at an astonishing $1,242/bitcoin, while the price of gold at the same time was only $1,241.98/oz. Based on the rapid development of Bitcoin, the outside world has begun to pay close attention to Bitcoin, and more technology leaders and funds have gradually studied the blockchain technology behind Bitcoin.
Everyone has bet on the digital currency payment track, but unfortunately, during this period, in addition to some innovations in some projects, more projects simply copied the concept of Bitcoin, changed some codes and released them to the market. Digital currency and digital currency. As a result, a large number of counterfeit projects appeared on the market at that time.
However, they did not run rampant for long. On December 5, 2013, five ministries and commissions including the People's Bank of China issued the "Notice on Preventing Bitcoin Risks", clarifying that Bitcoin does not have the same legal status as currency and cannot and should not be used as currency in the world. Circulation and use in the market. On the day the notice was sent out, the price of Bitcoin fell, and Bitcoin entered its first major bear market. In the following time, those counterfeit projects with no application value disappeared in the long river of history one by one, and Bitcoin completely turned into digital gold at this stage.
Generally speaking, at this stage from 2012 to 2014, the entire blockchain circle abroad seemed to have collectively entered into a strange circle of thinking, thinking that blockchain technology can only be applied to digital currency, and it was not until the appearance of a teenager in 2014 that it broke the With this limitation, this young man will become the famous God of V in the future. And God V will bring his Ethereum to completely start a revolution that truly belongs to the blockchain, bringing a wave of public chain technology.
As for the specific story of V God and Ethereum, please let Mr. K keep an eye on it, let’s talk about it in the next class~
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