Blockchain and Cryptocurrency – Revolutionary Technology with Room to Grow

December 1, 2020 / by Frederic Rough

What is blockchain? What is cryptocurrency? Is there financial opportunity? How do you get started investing? Find out all this and more.

Blockchain – A Very Brief History

The concept of blockchain traces its origins to the Cypherpunk Movement, a loose organization which began in the late 1980s and was concerned with issues including censorship, privacy for communication and data, and the protection of the individual’s electronic footprint in the emerging digital age. Cypherpunk enthusiasts identified cryptography as an ideal method for protecting digital privacy, more so than laws and sociopolitical initiatives.


Cryptography – A Key Component of Blockchain

Blockchain relies on cryptography to ensure secure data transmission. A “cryptographic hash” or just “hash” is a one-way function that is virtually impossible to change or reverse. Each block in a blockchain is made up of a hash from the previous block, a timestamp, and the transaction data. If a block is tampered with, that tampering, by default, breaks the chain.

(Looking for a simple explanation of blockchain? Visit our FAQ)


Bitcoin and the Invention of Block 0

On January 3, 2009 Satoshi Nakamoto (or another individual or group using that alias) implemented the first blockchain when he mined the genesis block of Bitcoin (block 0). Since then, and up until only very recently, Bitcoin and blockchain have been largely ignored by mainstream financial and business markets. Viewed as nothing more than an interesting idea with few mass market applications, broad interest has been slow to gain momentum. For years, widespread lack of understanding, limited media coverage, and numerous public policy restrictions stifled growth in the sector and forestalled what many believe to be the next phase of the Internet, an evolution so significant that many predict it will bring on a new digital age known as Web 3.0.


Blockchain and Cryptocurrency are Now Entering the Mainstream

Early blockchain adopters were most often technologists and futurists who foresaw the potential that was possible with the broad adoption of cryptocurrency in general. Now, more than a decade after Nakamoto mined the first Bitcoin, and after huge swings in the value of cryptocurrency have made millionaires out of those early adopters, numerous major corporations, including the likes of Apple, JP Morgan Chase & Co, Berkshire Hathaway, Bank of America, Walmart, Toyota, Samsung, and Microsoft are integrating blockchain technology and cryptocurrency into their products and services. Web 3.0 now seems inevitable and blockchain has revealed itself to be an incredibly useful method of securely transmitting data from sectors including finance, healthcare, real estate, and government.


How Does the Individual Investor Take Advantage of the Blockchain Revolution?

Bitcoin was created to democratize, decentralize, streamline, and disintermediate the world of expensive and slow financial transactions. Blockchain was created to secure transactions, eliminate fraud, and protect privacy as more and more of our lives are digitized. These are necessary next steps in the evolution of the Internet, and as they are introduced into Internet functionality, investment opportunities abound.

But if you have zero experience with cryptocurrency or Blockchain, you may be asking yourself:

  • How Do I Get Started Investing in Cryptocurrency?
  • What are the Steps Involved?
  • Where Do I Start?




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Coinsquad Crypto-Specialists have been investing and trading cryptocurrency, and developing dApps software since 2017. As a group of security-conscious individuals, we believe in privacy protection, and we’re here to help safely resolve your crypto tech issues. With Coinsquad, help is just a phone call away.


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Read This Next:

Frederic Rough Unpacks the Coinsquad Mission on the Crypto Campfire Podcast


Tags: News

Frederic Rough

Written by Frederic Rough

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