Bitcoin Added to the Guinness Book of World Records because the ‘First Decentralized Cryptocurrency’

Since 1955 Guinness World Records (GWR) has printed a reference ebook yearly that covers world information from excessive pure occasions to human achievements. This 12 months, Bitcoin has entered the fray because the world’s first and Most worthy cryptocurrency community as GWR has added the topic to this 12 months’s annual information.

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

Satoshi Nakamoto’s cryptocurrency and blockchain community, Bitcoin, has acquired a lot of accolades over time, and it’s been acknowledged by mainstream media sources and conventional mediums. For occasion, in 2016, the phrase “bitcoin” was added to the Merriam-Webster Unabridged Dictionary, and two years later it entered the Scrabble lexicon. This 12 months, Guinness World Records (GWR) has given recognition to Satoshi Nakamoto’s invention as bitcoin is taken into account the “first decentralized cryptocurrency.”

Guinness World Records has been formally recording information from varied human achievements and excessive pure occasions for 67 years. Records present the primary version of Guinness World Records was the highest ebook on the best-seller record in December 1955. The ebook nonetheless encompasses a vital catalog and verification of world information tied to quite a few acts and record-breaking achievements. The concept of making a ebook of information initially derived from the managing director of Guinness Brewery, Sir Hugh Beaver.

While It’s an Achievement for Bitcoin, Guinness World Records Summary Contains Errors

The abstract of bitcoin featured within the newest Guinness World Records describes how the undertaking’s white paper was printed on-line in 2008, and the Guinness authors say Bitcoin was “developed as an answer to the problem of regulating a digital forex with none centralized group, or ‘trusted third celebration,’ to supervise transactions.” The GWR authors additional element that the community Satoshi Nakamoto created solved the double spending downside. The 2022 GWR report states:

The Bitcoin community [solves] the double spend downside with a “trustless” mechanism that doesn’t require any third-party (e.g., banks) to confirm transactions; and it achieves that with validators (i.e., miners, in PoW.) Miners are computer systems devoted to the community to validate all transactions and prohibit any dangerous actors.

The class GWR researchers put Bitcoin in is “first,” as within the “First decentralized cryptocurrency.” The date recorded for the record-breaking “first” is January 3, 2009, the day Bitcoin launched. While the GWR addition is an achievement, a few of the factoids supplied by GWR researchers are mistaken.

For instance, it has recorded the mistaken date of publication for the unique Bitcoin white paper which was on October 31, 2008, and it erroneously cites Satoshi Nakamoto as having 600,000 BTC in a single pockets that “has been inactive for greater than a decade.” This info is factually incorrect as Nakamoto’s stash doesn’t reside in a single pockets and the BTC held by the inventor is estimated to be round 1 million BTC versus the 600,000 BTC quoted by GWR.

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