Global Info Reports Current Trends in the Cryptocurrency eco system in | Page 2

Cryptocurrency History:
There have been numerous endeavors at making a currency of digital form amid tech boom
of the 90s, with the systems like Beenz, Flooz, and DigiCash rising in the market yet
naturally failing. There were various reasons behind their failures, for example, financial
problems, fraud and even conflicts between organizations' managers and workers.
Eminently, those systems used an approach Trusted Third Party, implying that the
organizations behind the systems facilitated and verified the exchanges. Because of the
failures of these organizations, the making of a system for digital cash was viewed as an act
of futility for quite a while.
At a point, in the early 2009, an unknown programmer or a team of programmers under a
false name Satoshi Nakamoto presented Bitcoin. Satoshi portrayed it as a 'system of peer-
to-peer electronic cash.' It is totally decentralized, which means that there are no servers
included and no authority for central control. The concept nearly looks like peer-to-peer
systems for sharing of file.
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