Bitcoin, the world’s first cryptocurrency, has made its first appearance in the Guinness World Records as the “first decentralized cryptocurrency.”
Bitcoin Wins the Guinness World Record for First Decentralized Cryptocurrency
According to the latest edition of the reference book, Bitcoin is the “oldest,” “most valuable,” and “first-decentralized” cryptocurrency.
Since its creation in 2009, the digital asset has remained larger than any other crypto by market cap.
Even as thousands of other cryptocurrencies (Altcoins) have emerged over time, Bitcoin’s dominance has continued on a rising trend of over 40% of the market with over $370 billion in cumulative value.
On the record book online page, Bitcoin is seen as a solution to the issue of the “trusted third party,” which was formerly required to facilitate digital payments.
“The Bitcoin network is solving the double spend problem with a “trustless” mechanism that does not require any third party (e.g., banks) to verify transactions; and it achieves that with validators (i.e., miners, in PoW.),” reads the post.
Apart from Bitcoin, the infamous CryptoPunks NFT collection also earned recognition for the “most expensive NFT collectible,” after Deepak Thapliya purchased CryptoPunk #5822 for $23.7 million in ETH on February 12th.
Although Beeple’s artwork sold as an NFT for $69.3 million in 2021, but it didn’t match the record’s NFT criteria as “limited-edition sets of artwork built around pre-rendered templates.”
Also, Manchester City Fan Token won the “most valuable fan token,” having a market cap of $47.1 million as of March 24th – the book’s reference date.
Currently, the token’s market cap has plummeted to about $24.8 million.
Finally, accolades have been given to El Salvador as the country earned the record for “first country to adopt Bitcoin as legal tender,” in June of 2021.
Apart from El Salvador, the only other country to do the same is the Central African Republic in April of this year.