06-23-2021, 01:56 PM
Bitcoin was not the first Digital Currency!
<!-- SC_OFF --><div class="md"><p>A lot of folks believe that Bitcoin was the first digital currency but this statement is not completely true, a bunch of other digital currencies were made by using different technologies for example:</p> <p>1.) digicash by David Chaum(1989)</p> <p>2.) Mondex by National Westminster Bank(1993)</p> <p>3.)Cyber Cash (1994)</p> <p>4.)E-Gold(1996)</p> <p>5.)Hashcash by adam back (1997)</p> <p>6.)Bit Gold(1998)</p> <p>7.)Lucre by Ben Laurie (1999)</p> <p>But all of them failed, mainly because of Double spending, lack of consensus model and Centralisation but without these failed projects Bitcoin would never had been possible, for example Hashcash was the first digital currency to use hash functions the same tech used by most of the cryptocurrencies today.</p> <p>Finally, Satoshi Nakamoto combined all these concepts and his own research together to give birth to the next generation of finance!</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/atronos_kronios"> /u/atronos_kronios </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/o5wl9k/bitcoin_was_not_the_first_digital_currency/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/o5wl9k/bitcoin_was_not_the_first_digital_currency/">[comments]</a></span>Kind Regards R
<!-- SC_OFF --><div class="md"><p>A lot of folks believe that Bitcoin was the first digital currency but this statement is not completely true, a bunch of other digital currencies were made by using different technologies for example:</p> <p>1.) digicash by David Chaum(1989)</p> <p>2.) Mondex by National Westminster Bank(1993)</p> <p>3.)Cyber Cash (1994)</p> <p>4.)E-Gold(1996)</p> <p>5.)Hashcash by adam back (1997)</p> <p>6.)Bit Gold(1998)</p> <p>7.)Lucre by Ben Laurie (1999)</p> <p>But all of them failed, mainly because of Double spending, lack of consensus model and Centralisation but without these failed projects Bitcoin would never had been possible, for example Hashcash was the first digital currency to use hash functions the same tech used by most of the cryptocurrencies today.</p> <p>Finally, Satoshi Nakamoto combined all these concepts and his own research together to give birth to the next generation of finance!</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/atronos_kronios"> /u/atronos_kronios </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/o5wl9k/bitcoin_was_not_the_first_digital_currency/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/o5wl9k/bitcoin_was_not_the_first_digital_currency/">[comments]</a></span>Kind Regards R