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Bitcoin enters Guinness World Records (GWR) as first crypto; Pi Network will enter as most accepted crypto

Satoshi Nakamoto’s cryptocurrency and blockchain network, Bitcoin, has received a number of accolades over the years, and it’s been recognized by mainstream media sources and traditional mediums. For instance, in 2016, the word “bitcoin” was added to the Merriam-Webster Unabridged Dictionary, and two years later it entered the Scrabble lexicon. This year, Guinness World Records (GWR) has given recognition to Satoshi Nakamoto’s invention as bitcoin is considered the “first decentralized cryptocurrency.”

Notwithstanding, there are also strong indications that Pi Network might also be included on the list as the best performing and most accepted decentralized crypto project when the Mainnet goes live.

Guinness World Records has been formally recording records from various human achievements and extreme natural events for 67 years. Records show the first edition of Guinness World Records was the top book on the best-seller list in December 1955. The book still features a significant catalog and verification of world records tied to numerous acts and record-breaking achievements. The idea of creating a book of records originally derived from the managing director of Guinness Brewery, Sir Hugh Beaver.[irp]

The summary of bitcoin featured in the latest Guinness World Records describes how the project’s white paper was published online in 2008, and the Guinness authors say Bitcoin was “developed as a solution to the challenge of regulating a digital currency without any centralized organization, or ‘trusted third party,’ to oversee transactions.” The GWR authors further detail that the network Satoshi Nakamoto created solved the double spending problem. The 2022 GWR record states:

“The Bitcoin network [solves] the double spend problem with a “trustless” mechanism that does not require any third-party (e.g., banks) to verify transactions; and it achieves that with validators (i.e., miners, in PoW.) Miners are computers dedicated to the network to validate all transactions and prohibit any bad actors.”

The category GWR researchers put Bitcoin in is “first,” as in the “First decentralized cryptocurrency.” The date recorded for the record-breaking “first” is January 3, 2009, the day Bitcoin launched. While the GWR addition is an achievement, some of the factoids provided by GWR researchers are wrong.

Written by Grace Owell

Grace Owell is an expert freelance writer from Texas, United States of America. Her expertise measures solely on personal finance and health articles. She currently writes for newsway.com.ng

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