There are more and more cryptocurrencies come into existence, what has allowed bitcoin to remain the dominant cryptocurrency with the largest market capitalisation. Gabriele Giancola, CEO and Co-founder of qiibee, a Swiss firm enabling brand loyalty programs on the blockchain, looks at the factors which have contributed to bitcoin’s surge in popularity, despite its volatility.
In October 2008, a white paper proposing a peer-to-peer electronic cash system was published under the name of Satoshi Nakamoto.
Satoshi still remains an unknown figure, but the paper and the ideas it contained has taken off in a big way in the past 10 years.
The peer-to-peer electronic system proposed in that specific paper was bitcoin — a term, payment method, and investment mode that started to grow within certain sectors for almost a decade before hitting mainstream popularity in late 2017.
Bitcoin may have been the first cryptocurrency, but many alternative coins, also known as Altcoins, have used the framework provided by bitcoin to break into the cryptocurrency game.
As more altcoins appear on the market, what sets bitcoin apart and makes it the dominant cryptocurrency?