Bitcoin Enters Guinness Book of World Records As First Decentralized Cryptocurrency
The Bitcoin cryptocurrency and blockchain network was added to the Guinness Book of World Records as the "First Decentralized Cryptocurrency".
Bitcoin has received a number of awards over the years and has been recognized by both mainstream and traditional media. For example, in 2016 the word "Bitcoin" was added to the Merriam-Webster Complete Dictionary.
Two years later, the word "Bitcoin" entered the Scrabble Lexicon. This year, the crypto asset discovered by Satoshi Nakamoto was named by GWR as the "first decentralized cryptocurrency" in the world.
Launching from Bitcoin News, the Guinness World Record (GWR) officially records various human achievements and extreme natural events over the last 67 years. The first edition of the Guinness World Records was the top book on the bestseller list in December 1955.
The idea to create a world record book originally came from the managing director of the Guinness Brewery beverage company, Sir Hugh Beaver.
The Bitcoin summary featured in the latest Guinness World Record describes a project white paper published online in 2008.
GWR said Bitcoin “was developed as a solution to the challenge of managing digital currencies without a centralized organization, or a 'trusted third party,' to oversee transactions.”
Furthermore, GWR detailed that the blockchain network created by Satoshi Nakamoto has solved the problem of double spending, namely the potential for digital currencies to be spent twice.
"The Bitcoin network (resolved) the double-spending problem with a “trustless” mechanism that does not require a third party (e.g., bank) to verify transactions; and it is achieved by validators (i.e., miners, in PoW.) Miners are computers dedicated to the network. to validate all transactions and ban bad actors," wrote the Guinness World Record.
Although the addition of Bitcoin to the world record book is an achievement, some facts written by GWR researchers are wrong.
For example, GWR incorrectly noted the publication date for the original Bitcoin whitepaper as October 31, 2008, and incorrectly stated that Satoshi Nakamoto had 600,000 BTC in a single wallet that was "active for over a decade."
The information is factually incorrect, because Nakamoto's deposits are not in just one wallet, and the BTC held by Nakamoto is estimated to be around 1 million BTC.
