Within the past two years, Bitcoin, the first and most popular form of “cryptographic currency,” has entered the mainstream. With roughly $3.4bn worth of Bitcoin (BTC) in circulation, over a half billion dollars of Venture Capital invested in the space (including into one potential billion dollar company), and Fortune 500 companies such as Dell, Microsoft, Overstock, and Paypal accepting the digital currency, it is an impressive track record for any seven-year-old technology.
And Bitcoin is not just a reapplication of existing technology, for instance, the way that the consumer internet was really 1970’s technology in a new setting. The very concept that enables cryptocurrency, the system for running a distributed self-regulating database called the “Blockchain,” is just as new as Bitcoin itself: seven years.
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