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Bitcoin Enters Guinness World Records (GWR)

Satoshi Nakamoto’s cryptocurrency and blockchain network, bitcoin, has garnered international praise and acknowledgment from both online and offline media outlets. Guinness World Records (GWR) recognized bitcoin’s status as the “first decentralized cryptocurrency” this year.

Guinness World Records has been around for 67 years now, officially recording extraordinary human feats and rare nature occurrences.

According to the Guinness writers, Bitcoin’s creation aimed to ease the difficulty of regulating a digital currency without any centralized organization or ‘trusted third party,’ and the project released its white paper online in 2008. The GWR writers further added that Satoshi Nakamoto’s network eliminated the possibility of double spending.

According to the GWR report for 2022,
“The Bitcoin network [solves] the double spend problem with a “trustless” mechanism that does not require any third party to verify transactions; and it achieves that with validators (i.e., miners, in PoW).”

Further, explaining that miners are computers dedicated to the network to validate the transactions and pick out the bad actors. The report said that Bitcoin falls under the “first” category as the “First decentralized cryptocurrency.”

Bitcoin’s release on January 3, 2009, made it the official date of the world’s first. Although the GWR expansion is noteworthy, not all the information offered by GWR experts is accurate.

Cryptocurrency prices have dipped again. Currently, the total value of all cryptocurrency on the market has dropped by 0.79 percent to $924.03 billion. Furthermore, Bitcoin is now trading at $19,204, down by 1.08%.