Bitcoin is a digital currency which uses peer-to-peer technology. It doesn’t require a bank for making online transactions worldwide and is also known as the first cryptocurrency that does not use central repositories. As such, it’s classified as a decentralised currency by the U.S. treasury.
The currency was first introduced in 2008 to a cryptographic mailing list. On 9th January 2009, the first version (1.0) of Bitcoin was released and on 12th January, the first transaction took place.
Presently, Bitcoin prices are climbing and there’s a whole host of significant, and widespread, clients. Pennsylvania was the first state in U.S. to accept Bitcoins back in 2013.
UK bank, Barclays, have revealed that they will be the first to facilitate users in making charitable donations using the currency outside their system.
Total Processing has created an infographic to explain The Rise and Rise of Bitcoin since 2008.
Toby Dean works on behalf of Total Processing in content creation and marketing. He creates engaging graphics and content that help businesses stand out from the crowd. Over the past seven years has worked with dozens of SME’s in both an agency and freelance capacity.