New Year’s Special: the Decade of Crypto
Did you know the word “blockchain” was first used in 2010? Since Bitcoin was created by Satoshi Nakamoto, we entered a decade that truly can be called a crypto decade. Today, turning the page to 2020, let’s recap the crypto benchmarks and look at the major events of 10 years in the decentralized world.
On January 3rd, 2009, a mysterious figure named Satoshi Nakamoto launched a virtual currency named Bitcoin that functioned atop what s/he called a Proof of Work chain, known today as a blockchain.
February: The first cryptocurrency exchange, Bitcoin Market was established.
April: 1,000 BTC were traded for 30 US dollars in the first public Bitcoin trade.
May: Laszlo Hanyecz paid BTC 10,000 for two Papa John’s pizzas (approximately USD 25), which was the first real-world Bitcoin transaction.
June: Bitcoin developer, Gavin Andreson, created a faucet offering 5 free BTC to the public.
July: The word “blockchain” appeared on the BitcoinTalk forum. Magic The Gathering Online eXchange, also known as Mt. Gox, was established.
August: A bug in the Bitcoin protocol leads to the emergency Hard Fork.
January: One-quarter of a total of 21 Million Bitcoins was mined.
February: BTC/USD parity established.
April: BTC/EUR and BTC/GBP parity established.
June: WikiLeaks started accepting Bitcoin. Mt. Gox hacked.
October: Litecoin released.
May: The first issue of Bitcoin Magazine (founded by Mihai Alisie and Vitalik Buterin) was published.
September: Bitcoin Foundation created. Coinbase raised over $600k.
November: First Bitcoin halving set the reward at 25 BTC per block.
February: Reddit started accepting Bitcoin.
May: Total Bitcoin value reached more than 1 Billion USD. The first rally and crash took place. BTC price rose from $13 to $220 and dropped to $70.
June: 25,000 BTC were stolen from the Bitcoin forum founder.
July: Mastercard became the first project to conduct an ICO.
October: The FBI cracked on the dark web marketplace, Silk Road, and confiscated 26,000 BTC. The first Bitcoin ATM began to operate at Waves Coffee Shop in Vancouver.
November: Vitalik Buterin released the Ethereum whitepaper. Bitmain released S1 Miner. Bitcoin’s price broke USD 1,000.
December: The Chinese government stated Bitcoin was not a currency.
January: Vitalik Buterin announced Ethereum at the North American Bitcoin Conference in Miami.
February: Mt. Gox went offline. Over 850,000 BTC lost.
March: Credit-card processor Stripe began to accept Bitcoin.
April: Gavin Wood released the Ethereum yellowpaper.
June: Ethereum Foundation was established. Silk Road confiscated BTC is purchased by venture capitalist Tim Draper.
July: The first stablecoin, BitUSD, was launched by BitShares.
October: ConsenSys is founded by Joe Lubin.
By year’s end: Paypal, Zynga, Overstock.com, Expedia, Newegg, Dell, Dish Network, and Microsoft were all accepting Bitcoin payments.
January: Coinbase opened the first US-based cryptocurrency exchange.
April: NASDAQ initiated the blockchain trial.
July: Ethereum’s first live mainnet released – Frontier – launched.
August: The first token on Ethereum blockchain, Augur, was launched.
October: Bitcoin was featured on the front cover of The Economist.
December: Linux Foundation established Hyperledger project
January: Joseph Poon and Thaddeus Dryja released “The Bitcoin Lightning Network: Scalable On-Chain Instant Payments”.
March: Second Ethereum mainnet release, Homestead, rolled out.
April: The DAO (decentralized autonomous organization) launched a 28-day crowdsale.
May: Chinese Financial Blockchain Shenzhen Consortium was created
June: The DAO was attacked. 3.6 Million ETH stolen.
July: The DAO attack resulted in a Hard Fork of the Ethereum Blockchain to recover funds. A minority group rejected the hard fork and continued to use the original blockchain – Ethereum Classic. Second Bitcoin halving set the reward at 12.5 BTC per block.
January: BTC price broke USD 1,000 for the first time in three years.
February: Enterprise Ethereum Alliance was formed.
April: Bitcoin was officially recognized as currency by Japan.
June: EOS began its year-long ICO.
August: Bitcoin Cash forked from the Bitcoin Network.
September: China banned ICOs. The amount locked in decentralized finance apps reached $1 Million.
October: Ethereum released Byzantium Hard Fork network upgrade, part one of Metropolis. Bitcoin price surpassed $5,000 for the first time.
November: Bitcoin price surpassed $10,000 USD for the first time.
December: BTC price went to a so far all-time high USD 19,891. Lightning Network Protocol 1.0 was released. Ethereum DApp Cryptokitties went viral. Maker DAO launched DAI.
2017 saw 435 successful ICOs raising a cumulative total of over $5.6 Billion.
January: Switzerland began to accept tax payments in Bitcoin. 80% of all BTC has been mined. Ethereum price peaked near USD 1,400. Facebook banned all crypto ads.
March: Google banned all crypto ads. Twitter banned all crypto ads.
April: The EU government committed $300 Million to develop blockchain projects.
June: South Korean government invested millions into blockchain development initiatives.
July: Over 100,000 ERC20 tokens were created.
August: New York Stock Exchange owner announced Bakkt, a federally regulated digital asset exchange. Monetary Authority of Singapore launched Project Ubin.
October: Bitcoin celebrated the 10th anniversary.
November: Bitcoin Cash hard forked into Bitcoin ABC and Bitcoin SV.
December: 90% of banks in the US and Europe reported exploration of the blockchain technology. Kaspersky report claimed that 19% of the global population purchased cryptocurrency prior to 2019.
January: Coinstar began selling cryptocurrency at grocery stores across the US.
February: Ethereum’s Constantinople Hard Fork was released, part two of Metropolis.
April: Bitcoin saw 400 Million in total transactions.
June: Facebook announces Libra.
July: United States Senate held hearings titled “Examining Regulatory Frameworks for Digital Currencies and Blockchain”.
October: Block.One was fined $24 Million by the SEC for its unregulated $4 Billion EOS ICO.
November: BTCMEX was established. Over 3000 DApps created. Of them, 2700 were built on Ethereum. Amount of Ether locked in DApps reached the all-time high of 2.7 Million ETH.
December: Ethereum’s Istanbul Hard Fork was released.