Cryptocurrencies In 2009 and 2022, What Has Changed?
Bitcoin was the first cryptocurrency created with the sole aim of creating a financial system where funds aren't controlled by any central government or authorities and are securely sent swiftly and anonymously. It's been 13 years since Bitcoin emerged so what has changed?
Since Bitcoin's creation, there have been hundreds of thousands of cryptocurrencies launched with some having some pretty great use like Hive. We've gone from a time when cryptocurrencies were regarded as forms of payments to an era where cryptocurrencies have found great use in, Social Media/ Blogging, Decentralized Finance, NFTs, and Play To Earn Games.
Cryptocurrencies are gradually becoming accepted globally as the best ways of earning from contents we create, as the best way of managing our finance and storing value via DeFi, and the best way of connecting with those who share the same interest with us via NFTs.
Unfortunately, The surge in price and popularity of cryptocurrencies came with massive scams and cyber frauds as never seen in the historu of mankind. Frauds and hacks take several forms as crypto is one of the best ways to get away with these crime due to the anonymous nature of receiver of these cryptocurrencies also also due to the fact that people are willing to do anything to get their hands on some cryptocurrencies.
The idea of decentralization remains the foundation and backbone of almost all cryptocurrencies created and I don't see that changing. As a matter of fact, that has been the sole purpose of cryptocurrencies, to give freedom and complete ownership to the people as opposed to the conventional system of government, finance and ownership before the invention of cryptocurrencies.
I believe this is just the start of the Crypto Revolution and we'll be seeing some great inventions from this space in the coming years. From the first presidential election carried out on a blockchain, to people having full rights and complete ownership of their creations and so on. I believe crypto is the biggested invention of the past decade and it would bring more changes in every area of our lives.