Eleven years ago, a pseudonymous coder and thinker Satoshi Nakamoto published bitcoin’s whitepaper, outlining a decentralized ledger and money system. Since then, the leading cryptocurrency has come very far and still has a long road ahead.
Blockchain technology, which underpins all the cryptocurrency, also happened because of the bitcoin’s whitepaper, the technology which is now being hailed as a revolutionary for the entire world. The governments of different countries all over the world are acknowledging the importance of this technology.
Crypto analyst Yassine Elmandjra tweeted that the bitcoin network surpassed 1 billion in cumulative fee revenue, which is a huge milestone for the bitcoin network. The fee is distributed to a global group of miners who voluntarily maintain for blockchain network fro monetary incentives.
It's official. The Bitcoin network has surpassed 1 billion USD in cumulative fee revenue. pic.twitter.com/lKzstEX3eI
— Yassine Elmandjra (@yassineARK) October 30, 2019
Tuur Demeester, the founding partner of Adamant Capital, interpreted the one billion dollar fee revenue as “$1 billion funding for the world’s strongest firewall. Bitcoin still has a long way to go the cryptocurrency is not used widely by working-class people around the world as bitcoin has gained a reputation of highly volatile digital asset.