- There are currently several entries for Bitcoin in the Guinness Book of World Records.
- The most recent edition of the world records includes accomplishments in a number of business sectors, including adoption, NFTs, and Bitcoin.
The term “Cryptomania” was used by Guinness World Records to describe Bitcoin and several other blockchain-related events in its most recent edition. As the “first decentralised cryptocurrency,” Bitcoin has officially been recognized by Guinness World Records for a number of entries.
According to the entry, “Bitcoin was created as a response to the difficulty of regulating a digital currency without any centralised organisation.” This comes after the digital asset’s market capitalization reached almost $816 billion on March 24. In addition, after its launch in 2009, it became the first decentralised digital asset ever created, making it into the record books.
According to the body’s description, Bitcoin was created to deal with and control digital assets without needing a centralised authority. The digital asset operates without the aid of a third party for transactional purposes.
The body also pointed out that there were some assets existing prior to Bitcoin, but they were designed with centralization in mind.
Guinness World Records has added many topics relating to cryptocurrencies and digital assets to its most recent version, which was released in September. These topics include crypto adoption, non-fungible tokens (NFTs), and fan tokens.
Guinness mentions that Bitcoin uses proof-of-work to provide decentralised consensus, but it appears that the record keeper is still getting to know Bitcoin.
Each node, or computer, serves as a validator, also known as a miner in the case of proof-of-work (PoW) systems, the entry reads.
The book mentions El Salvador as the “first country to adopt Bitcoin as legal tender” in 2017.
It was hoped that this action, which was denounced by the World Bank, would lower the cost of international transfers, which is crucial for a nation that relies heavily on the money that foreign workers send home.
Every edition of the book, according to the Guinness World Records spokesperson, “tries to reflect that year’s zeitgeist and the topics our readers are likely to be discussing,” with crypto joining the likes of space travel and TikTok as prominent topics.
The spokesperson continued, “We will be following this space with interest over the coming years as the technologies that support cryptographic systems develop and find a wider range of applications.”