Bitcoin (BTC) as the pioneer of digital currency invented by unknown individual or group of individuals known as Satoshi Nakamoto. Early progress began in 2008, during the financial crisis of 2008, with the milestone paper titled “Bitcoin: A Peer-to-Peer Electronic Cash System” being released on October 31, 2008.
Often called “Digital Gold” for its monetary properties which are similar to gold, the enduring popularity and market resilience of Bitcoin has encouraged the growth of other cryptocurrencies, and as a result it has come to be known as the “mother” or “father” of all cryptocurrencies. Initially limited to all but the most ardent technology enthusiasts, Bitcoin was responsible for convincing the masses that a P2P financial system devoid of middlemen and centralized was in fact possible, a characteristic made possible through its Proof-of-Work consensus algorithm which incentivized good behavior.
Since 2009, Bitcoin has been through a number of changes and incidents, but continues to thrive as the most popular token in the cryptocurrency market. The lasting nature of Bitcoin is a quality that is highly appreciated by its proponents. Many tokens have been inspired by it, including envisioned token Litecoin (LTC). Because of the popularity and established nature of Bitcoin, it is often the base pair with which other cryptocurrencies are being traded.
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