Interesting Facts About Crypto You Would Never Google

Welcome to our pre-weekend installation of posts guiding you as you learn cryptocurrencies! This time, we unveil the facts about cryptocurrency that hopefully give you a bigger picture of the crypto space and what it advocates.

Cryptocurrency Facts

Here are some entertaining facts about blockchain and cryptocurrencies simultaneously revealing their beauty and brutality.

"Blockchain does not equal cryptocurrencies."

Blockchain is way more than digital cash. The underlying benefits of the technology make it highly utilitarian for humanity. Per se, blockchain can be used in numerous areas of life making it easier and more decentralized.

Imagine elections held on the blockchain. They would be publicly accessible and trustless (with zero need to rely on any third party), as the databases powered by blockchain enable total transparency. No doubts and no voter fraud – as information kept on the blockchain can never be modified or deleted.

Blockchain is already used for cloud file storage. Thanks to technology, we can have decentralized storage with no centralized server meaning total security.

"Ethereum is bigger than just cryptocurrency."

It is a whole decentralized finance ecosystem hosting borderless payments, smart contracts, NFTs, metaverses, other blockchains, and loads of decentralized apps and drives Web3 more than any other crypto projects.

"There's a blockchain-based version of Wikipedia."

IQ.wiki, formerly Everipedia, is hosted decentralized and provides censorship-free information. After the rebranding, the platform shifted specifically to Web3 topics.

"Shiba Inu is more than a meme coin."

Money made with all the hype cute SHIB dogs have made in the space is regularly donated to dog shelters and used to build a decentralized exchange to let users freely trade their assets without intermediaries.

"Crypto is the fastest-adopted technology in the world."

Rates of cryptocurrency acceptance 2 times surpass the Internet adoption. And the gap is only predicted to widen.

Image Source: GMI

"20% of the population in Turkey actively uses cryptocurrencies."

Relying on cryptocurrencies to secure savings is a common practice amongst countries with failing economies.

"Splinterlands has 300k daily users."

If you think crypto gaming is dead, then Splinterlands will prove you wrong. It has 3M users from all over the world registered and united on the platform, with 3-5 million transactions performed daily!

"Hackers stole over $14b worth of crypto in 2021 and 3 billion dollars more in 2022."

Here's another reminder to take crypto security with the greatest seriousness.

Facts You Might Not Know About Bitcoin

"Satoshi Nakamoto."

There's a lot of speculation to this day concerning the personality behind the pseudonym Satoshi Nakamoto, a Bitcoin creator. There's even a statue in bronze in Budapest, Hungary, celebrating the mysterious father of Bitcoin's contribution to the groundbreaking technology.

Image Source: Statueofsatoshi.com

"Bitcoin was the only cryptocurrency till 2011."

Before alternative coins (altcoins) like Litecoin were created based on Bitcoin's code with improvements added to it.

"Now there are a little more than 22,000 cryptocurrencies existing in the world."

With Top-10 currencies making up 84% of the overall crypto market cap, where Bitcoin alone is generating 40% capitalization for the whole market!

"FBI holds the biggest Bitcoin wallet in the world."

Seized upon rolling up the illegal marketplace, it reportedly stores around 144,000 Bitcoins, which equals 1% of all Bitcoins circulating in the market — 2.5 billion dollars at today's BTC rate.

"There is a Bitcoin pizza day, celebrated annually on May 22."

The day is marked with the first Bitcoin payment made to purchase two pizzas back in 2010 for 5,000 BTC each. If Laszlo Hanyecz, now exclusively known as The Pizza Guy, kept them, that would make him $168,500,000 richer!

"Bitcoin is mentioned on Twitter every 1.15 seconds."

There were around 100k references to “bitcoin” on December 20, 2022. The peak rate of 364k tweets per day happened in May 2021.

"Bitcoin v0.1.0 was made of 31k lines of code."

They laid the basis for a whole new financial system changing the world.

"The biggest fail in crypto custody."

It happened when a beginner miner from the UK literally threw away a hard drive with 7.5k BTC coins in it by mistake.

Hope you found our compilation of crypto facts fun and educating. Stay tuned and dive into the amazing world of cryptos together with the Arctic Wallet blog!