Bitcoin recognized as the first decentralized cryptocurrency by Guinness World Records

Bitcoin has officially secured a title as ‘the first decentralized cryptocurrency’ in the latest editor of the Guinness World Records. 

‘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,’ reads the post. 

It also described Bitcoin as ‘the oldest,’ ‘most valuable,’ and created to address the problem of the ‘trusted third party,’ which eliminates the need for a centralized authority to oversee transactions. 

Moreover, Guinness World Records named Satoshi Nakamoto as the pseudonymous creator of the oldest cryptocurrency, Kevin McCow’s Quantum as the ‘first NFT,’ and Cryptopunk #5822 as the ‘most expensive NFT collectible.’

It also named Manchester City Fan token’ as the ‘most valuable fan token 'and El Salvador as the ‘first country to adopt Bitcoin as legal tender’ in June 2021.

Bitcoin’s feature into the Guinness World Records came after Merriam-Webster dictionary added words ‘altcoin’ and ‘Metaverse’ in its reference pages last month. 

Photo: Guinness World Records