One article at a glance: the 10-year trough and glory of blockchain

On January 3, 2009, the global financial crisis exacerbated world economic inequality. That year, a mysterious person named Satoshi Nakamoto issued a virtual currency called "Bitcoin". The currency runs on what he calls a "proof of work chain."

Satoshi Nakamoto created the first block, the genesis block, and permanently left a sentence in the genesis block that heralded the origin of the new currency: TheTimes 03 / Jan / 2009 Chancellor on brink of secondbailout for banks (On January 3, 2009, the Chancellor of the Exchequer was on the verge of implementing a second round of emergency bank assistance.)

This is a call for fairness. In the next decade, cryptocurrencies and digital assets have entered the early stages of a comprehensive transformation of the economy and human systems. This transformation is based on the concept of decentralized and democratic finance.

With the development of blockchain technology and people's deepening of their potential, in the more than ten years since the birth of Bitcoin, there have been incredible highlights and troughs. When we walk into 2020, now is a good time to review the development of blockchain for ten years. This technology has evolved from a digital currency worth only a few cents to an emerging pillar of the global economic system, and is still in its infancy.

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Before we start, let's understand some background: until the end of 2009, the development of blockchain was still very limited. In fact, the first transaction did not take place on the Bitcoin network until December 2009.

The BitcoinTalk forum is an early breeding ground for blockchain developers and went live in November. At this time, the blockchain ecosystem is limited to a few technologies and developers, and they only hear a little about what has been started.

year 2010

February-Bitcoin market, the first cryptocurrency trading market ever established. The first transaction occurred a month later.

In April, Bitcoin was first publicly traded: the Bitcoin index was 0.03 USD / 1 BTC, which means 1,000 Bitcoins for 30 USD.

In May, Laszlo * Hanyecz * traded 10,000 Bitcoins in the United States for 2 "Great! John" Pizzas for a total value of $ 25. This is the first real-world Bitcoin transaction.

In June, Bitcoin developer Gavin Andreson created a website called "Bitcoin Faucet", and each visitor received 5 bitcoins for free.

July-The term "blockchain" first appeared on the BitcoinTalk forum. Until then, it has been called the "proof of work chain".

August ー Bitcoin protocol error led to an emergency fork.

December-Satoshi Nakamoto disappeared mysteriously.

year 2011

January-A quarter of 21 million bitcoins have been mined.

In February, for the first time, Bitcoin reached parity with the US dollar.

In April, Bitcoin reached parity with the euro and the British pound.

In June WikiLeaks began accepting Bitcoin donations.

In June, the Mt. Gox Bitcoin exchange was hacked, causing Bitcoin trading to be suspended and prices plummeting.

In August, the first Bitcoin improvement proposal appeared: BIP Purpose and Guidelines.

October-Litecoin (LTC) released.

December—Bitcoin appeared as the main plot element in the American drama "A Wonderful Wife" and was watched by 9.45 million viewers.

2012

In May, the first issue of Bitcoin Magazine, launched by Mihai Alisie and Vitalik Buterin.

July-The Estonian government begins to include blockchain technology in digital identification.

September-Bitcoin Foundation was created.

In September, Bitcoin company Coinbase raised more than 600,000 USD.

October-According to BitPay, more than 1,000 merchants accept Bitcoin through their payment processing service.

November-The first Bitcoin block reward is halved, and each block reward is reduced to 25 BTC.

year 2013

In February, Reddit Gold members started accepting payments in Bitcoin.

March-The Cyprus government charges a deposit tax on bank accounts of more than $ 100,000. People flocked to buy bitcoin, causing the price of bitcoin to skyrocket.

In May, the total value of bitcoin exceeded US $ 1 billion, and the amount of Bitcoin in circulation reached US $ 11 million.

May-The first surge and plunge in the cryptocurrency market. The price of Bitcoin rose from $ 13 to $ 220 and then dropped to $ 70.

In June, the first cryptocurrency theft occurred. 25,000 Bitcoin was stolen by the founder of the Bitcoin Forum.

July-Mastercoin became the first project to conduct an ICO.

In August, a U.S. federal court ruled that Bitcoin is a currency or form of currency.

In October, the FBI closed the "Silk Road" of the dark web market and confiscated approximately 26,000 bitcoins.

In October, the first Bitcoin ATM machine was launched at Waves Coffee Shop in Vancouver.

November—Vitalik Buterin releases Ethereum white paper: "Next Generation Smart Contract and Decentralized Application Platform".

November—Bitmain released the S1Miner mining machine.

In November, the People's Bank of China agreed to the use of Bitcoin, and China's transaction volume soared to the world's leading level.

In November, Bitcoin broke 1,000 USD.

November-The U.S. Senate holds its first Bitcoin-related hearing.

December-First submission of the Ethereum codebase.

December-China changes its position on Bitcoin, announcing that Bitcoin is not a currency.

Year 2014

January—Vitalik Buterin announces Ethereum at the North American Bitcoin Conference in Miami.

February-The UK Revenue and Customs Authority lists Bitcoin as a private currency.

February—A large-scale DDoS attack against three major exchanges: Mt.Gox, Bitstamp, and BTC-e.

February—Mt.Gox goes offline and applies for bankruptcy protection. The whereabouts of more than 850,000 Bitcoins are unknown.

March-US Internal Revenue Service (IRS) issues guidance document to start taxing Bitcoin.

March-Credit card processor Stripe begins supporting Bitcoin.

March-Newsweek claims Dorian Nakamoto is the founder of Bitcoin. But he denied it.

April—GavinWood releases the Ethereum Yellow Book: "Ethereum: A Secure Decentralized General Trading Ledger"

June-Ethereum Foundation is established in Zug, Switzerland.

June-The U.S. Marshals Service auctions 30,000 Bitcoins confiscated from the Silk Road. All bought by venture capitalist TimDraper.

July — Ethereum tokens are issued, and 31,591 Bitcoins (valued at approximately $ 18.439 million) were raised in 42 days.

July—BitShares launches a stablecoin, BitUSD.

September-TeraExchange launches Bitcoin OTC approved by the US Commodity Futures Trading Commission.

October-JoeLubin founded ConsenSys.

December-By the end of 2014, Paypal, Zynga, Overstock.com, Expedia, Newegg, Dell, DishNetwork and Microsoft have all announced their acceptance of Bitcoin payments.

2015 year

January—Coinbase opens the first US cryptocurrency exchange.

February—Stripe provides merchants with Bitcoin payment integration services.

April-NASDAQ launches blockchain trial.

June—The New York State Department of Financial Services releases the final version of the BitLicense (digital currency license) for virtual currency regulations.

July-Ethereum launches its first mainnet release, Frontier.

August-Augur, a cryptocurrency token issued on the Ethereum platform.

September-R3 consortium consisting of 3 financial institutions increased to more than 40 members in six months.

October-Brothers Tyler and Cameron Winklevoss launch Gemini Exchange.

October-Bitcoin appears on the cover of The Economist.

November — The first zero-knowledge proof ZK-Snarks is released.

November-ERC-20 token standard proposed.

December—The Linux Foundation launches an open source project to promote the cross-industry application of blockchain: Hyperledger.

December-WIRED claims Craig Wright could be Satoshi Nakamoto.

December-Pieter Wuille releases "Segregated Witness and its Impact on Scalability" (SegWit).

2016 year

January—Joseph Poon and Thaddeus Dryja release "Bitcoin Lightning Network: Scalable Off-chain Instant Payment".

January—Zcash is released.

February—The Linux Foundation and 30 founding members announce the HyperLedger project.

March—China's 13th Five-Year Plan, with blockchain and cryptocurrencies occupying important positions.

March—The second phase of the Ethereum mainnet, Homestead, is launched.

April—The DAO (decentralized autonomous organization) project launches a 28-day crowdfunding. A month later, it raised more than $ 150 million in ether.

May—Shenzhen Alliance of China Financial Blockchain was launched with 31 members.

June-DAO is attacked, 3.6 million of 11.5 million Ethereum are redirected to the attacker's Ethereum account.

July-DAO is attacked, and then Ethereum hard forks to recover funds. A small number of people refused the hard fork, continued to use the original blockchain, and renamed it Ethereum Classic.

July—The second Bitcoin block reward is halved, and each block reward is reduced to 12.5 bitcoins.

November-The Chicago Mercantile Exchange (CME) releases the Bitcoin Price Index.

2017 year

January—Bitcoin price breaks through $ 1,000 for the first time in three years.

February-Enterprise Ethereum Alliance consists of 30 founding members, with more than 150 members six months later.

March-The U.S. Securities and Exchange Commission rejected the Bitcoin Exchange-Traded Fund (ETF) proposal.

April-Bitcoin is officially recognized as a currency by Japan.

June—EOS started a one-year ICO and eventually raised $ 4 billion.

July—Parity attack exposes weaknesses in multi-signature wallets.

August-Segregated Witness is activated and Bitcoin Cash is forked from the Bitcoin network.

October-Ethereum releases the Byzantium soft fork network upgrade as part of Metropolis.

September-China bans ICOs.

September—The amount locked in a decentralized financial application reaches $ 1 million.

October—Bitcoin price exceeds $ 5,000 for the first time.

October-The Chicago Mercantile Exchange (CME) launches Bitcoin futures.

November-Bitcoin price exceeds $ 10,000 for the first time.

November-Segwit2X was canceled after receiving attention from the Bitcoin community.

November-Devcon3 (Ethereum Developers Conference) in Cancun twice increased attendance to meet developer needs.

December-Chicago Options Exchange launches Bitcoin futures.

December-Bitcoin price reaches $ 20,000.

December-Lightning Network Protocol 1.0 is released.

December-Blockchain cat breeding game cryptokitties is popular, pushing Ethereum network congestion to the limit.

December—MakerDAO launches DAI, marking the future of decentralized finance.

December-Long Island Iced Tea Co. changed its name to Long Blockchain Corp. Its stock price rose more than 200% after the market opened.

December-Bitcoin median transaction fees peak at $ 34.

December-The Austrian government establishes the Institute of Cryptoeconomics.

From December to 2017, there were 435 successful ICOs, raising a total of more than $ 5.6 billion.

2018 year

January—Switzerland begins accepting taxes with Bitcoin.

January—80% of Bitcoin has been mined.

January-Ethereum price approaches $ 1400.

January—The total market value of cryptocurrencies peaks at more than $ 800 billion.

January—Facebook bans all crypto-related ads.

March-Lightning Lab deploys Lightning Network for the first time.

March—Google bans all crypto-related ads.

March—Twitter bans all crypto-related ads.

From April to the first four months of 2018, the amount of ICO fundraising reached US $ 6.3 billion, exceeding 2017.

April-EU government promises to invest 300 million US dollars to develop blockchain projects.

April-Over 1,500 cryptocurrencies with a market capitalization of $ 43 million.

June—The SEC states that Ethereum is not a security.

June-The Korean government invests millions of dollars in a blockchain development plan.

July—The number of ERC20 tokens exceeds 100,000.

August-NYSE parent company ICE launches Bakkt, a federally regulated digital asset exchange.

August-Monetary Authority of Singapore launches Ubin project, proving that Ethereum can be used for interbank settlement.

October-Fidelity launches cryptocurrency platform to institutional investors.

October-Bitcoin is born for ten years.

November-Venture capital invested in blockchain technology exceeds $ 1 billion.

November-Bitcoin Cash hard fork into Bitcoin ABC and Bitcoin SV.

December—90% of US and European banks release reports on blockchain technology exploration.

December-Kaspersky reports that 19% of the world's population purchased cryptocurrencies before 2019.

From December to 2018, the token issuance raised more than 2 billion US dollars throughout the year.

2019 year

January—Coinstar devices begin selling cryptocurrencies at grocery stores across the United States.

February-Ethereum Constantinople hard fork is released, entering the second phase of Metropolis.

April—Total Bitcoin transaction volume exceeds 400 million.

June-Ethereum's daily transaction volume exceeds 1 million.

June—Facebook releases cryptocurrency Libra white paper.

July-The U.S. Senate holds a hearing entitled "Review of the regulatory framework for digital currencies and blockchain."

August-Ethereum developers reach 4 times the number of any other blockchain.

September-Bakkt's physical delivery of Bitcoin futures officially launched.

October—Block.One was traded for unregistered securities and was fined $ 24 million by the US Securities and Exchange Commission.

October—Ethereum has more than 80 million addresses.

September-Santander Bank issues $ 20 million in bonds on Ethereum.

November-More than 3,000 Dapps were created, of which 2,700 were built on Ethereum.

November—The number of Ethereum locked in DeFi (Decentralized Finance) reached a record high, reaching 2.7 million.

Original: The Decade in Blockchain – 2010 to 2020 in Review Link: https://consensys.net/blog/news/the-decade-in-blockchain-2010-to-2020-in-review/ Author: ConsenSys Translator: Obviously, like a month, Java senior development engineer of a well-known Internet company, CSDN blog expert.

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