Bitcoin Added to the Guinness Book of World Records as the ‘First Decentralized Cryptocurrency’ – Bitcoin News

Since 1955, Guinness World Records (GWR) has published an annual reference book that covers world records ranging from extreme natural events to human achievements. This year, Bitcoin entered the fray as the world’s first and most valuable cryptocurrency network as GWR added the topic to this year’s annual profile.

Satoshi Nakamoto’s Bitcoin entered the Guinness Book of World Records

Satoshi Nakamoto’s Blockchain and Cryptocurrency Network, Bitcoin, has received several awards over the years and it has been recognized by mainstream media sources and traditional media. For example, in 2016, the word “bitcoin” is more into the Merriam-Webster Non-Coherent Dictionary, and two years later it was included Scrabble Vocabulary. This year, the Guinness World Record (GWR) has recognized Satoshi Nakamoto’s invention because bitcoin is considered the “first decentralized cryptocurrency”.

Bitcoin Added to Guinness Book of World Records as 'First Decentralized Cryptocurrency'
Bitcoin was added to this year’s list of Guinness World Records as it holds the record as the first decentralized cryptocurrency in existence.

Guinness World Records has officially recorded records from various human achievements and extreme natural events for 67 years. File showed that the first edition of the Guinness World Records was the book that topped the bestseller list in December 1955. The book still has an important catalog and verifies world records attached to many acts. vi and record-breaking achievements. The idea to create a notebook originally came from the CEO of Guinness Brewery, Sir Hugh Beaver.

Although it is an achievement for Bitcoin, the summary of the Guinness World Records still contains errors

The bitcoin brief outlined in the latest Guinness Book of World Records describes how the project’s white paper was published online in 2008, and the Guinness authors say that Bitcoin “was developed as a solution to the challenge of regulating a digital currency without any centralized organization, or ‘trusted third party,’ to monitor transactions. The GWR authors further detailed that the network created by Satoshi Nakamoto solved the problem of double spending. The 2022 GWR record says:

Bitcoin Network [solves] double spending issue with a “no trust” mechanism that does not require any third party (e.g. bank) to verify the transaction; and it achieves that with validators (i.e. miners, in PoW.) Miners are network-specific computers that validate all transactions and forbid any What bad actors?

The category that GWR researchers put Bitcoin in is “first”, as in “First Decentralized Cryptocurrency”. The recorded date for the record-breaking “first” is January 3, 2009, the day Bitcoin launched. While the addition of GWR is an achievement, some of the data provided by the GWR researchers is false.

For example, it misrepresented the publication date for the original white paper on Bitcoin as October 31, 2008 and it erroneously cited Satoshi Nakamoto as having 600,000 BTC in a single wallet that “has been inactive for over a decade.” This information is in fact inaccurate as Nakamoto’s vault is not in a single wallet and BTC held by the inventor is estimated at 1 million BTC as opposed to 600,000 BTC quoted by GWR.

Cards in this story

Bitcoin, Bitcoin Network, Bitcoin White Paper, BTC, BTC Network, Dictionary, Double spending problem, extreme natural events, The First Decentralized Cryptocurrency, Guinness World Records, Guinness Book of World Records, Guinness World Records researchers, Guinness World Records, GWR, human achievement, Invention, Merriam-Webster, Nakamoto’s wallet, recordkeeping, File, Satoshi Nakamoto, Scrabble lexicon, Third-party, Purse, White paper

What do you think about Bitcoin being added to the Guinness World Records list as the first decentralized cryptocurrency? Let us know your thoughts on this topic in the comments section below.

Jamie Redman

Jamie Redman is the News Lead at News and a fintech journalist living in Florida. Redman has been an active member of the crypto community since 2011. He has a passion for Bitcoin, open source and decentralized applications. Since September 2015, Redman has written over 6,000 articles for News about the disruptive protocols emerging today.

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