Bitcoin is recognized in the Guinness World Record, which is a commendable indication of the growth of blockchain technology. It speaks well of the first cryptocurrency – bitcoin – and rubs off on the massive adoption of other altcoins. This is no wonder IMPT, TAMA, and other prominent altcoins have been trending in the crypto market.
Bitcoin’s listing on the Guinness World Record is under the crypto-mania category. This signifies a cryptocurrency that has caught the interest of enthusiastic crypto traders and investors over the years. Meanwhile, the best way to identify this is by checking through social platforms like Reddit for the mainly discussed topic in the digital space.
The increased features of the usage of bitcoin also contribute to why it was listed on the Guinness World Record on the 18th of October. These include NFTs incorporation into bitcoin, increased market value, and usage as a legal tender. The good news is that; other cryptocurrencies are also exhibiting similar traits within their community.
Why is bitcoin added to the World Record? What other cryptocurrencies perform excellently as bitcoin? This article discusses in detail the subject matter. Read further to discover more information.
How Bitcoin Got Enlisted into Guinness World Record
Bitcoin is the first decentralization system to be launched into the digital space. It has launched several remarkable features or updates, which also pave the way for other cryptocurrencies. In terms of development, the cryptocurrency industry has been evolving in recent years more than ever.
The bitcoin blockchain helps to solve trust issues and transaction transparency. This is primarily due to its non-traceability characteristics, making it difficult for third parties to trace the source of a transaction. Thus, it helps users to remain as anonymous as possible. This feature makes it a more preferred model than traditional financial institutions.
Bitcoin’s adoption as El Salvador’s legal tender is an excellent push for cryptocurrency growth. This is the first country ever to implement bitcoin into its financial system. This achievement is a significant turning point for bitcoin, as Guinness World Record also recognizes it as the most expensive NFT collection.
Other Cryptocurrencies Making Global Impact Apart from Bitcoin
Since bitcoin leads other cryptocurrencies in major outbreaks and developments, it is not surprising to see the cryptocurrencies below follow the lead.
IMPT is a unique project that impacts global affairs, primarily environmental situations. To contribute to the carbon crisis solution, the IMPT developers created a marketplace where people can burn off the excess amount of carbon. The good news is that users burn the carbon credits in exchange for a reward, usually the IMPT token. Thus, the developers also partner with carbon-conscious brands to reduce the rate of carbon being emitted into the atmosphere.
IMPT also looks forward to launching its NFT collection in exchange for carbon credits. The transactions will be available and transparent, but only NFT owners can grant third-party access to the collections. By doing so, IMPT is expected to compete with older cryptocurrencies in the market, with over thousands of users across the globe. By this time, it would be worthy of being on the Guinness World Record because of its positive environmental effect and rapid market growth.
IMPT currently runs its presale season, ending on the 25th of November, 2022. The second presale will kick off almost immediately but would double the current token price of $0.018 per coin. The presale has recorded over $4 million in sales since its launch on the 3rd of October, 2022. Meanwhile, ETH users can also buy some IMPT tokens through the MetaMask or Trust Wallet.
The Tamadoge cryptocurrency has recently released its TAMA NFT, which got the crypto community talking. With over 79k community on its Twitter social page, Tamadoge keeps indulging its followers on updated projects on its Tamaverse. The NFT collection is available in the open sea, with the starting and reserve prices being 5 ETH and 0.5 ETH, respectively. TAMA has shown uniqueness from other regular meme coins by creating its Tamaverse of diversities.
Before the next few years, the Defi community expects massive market growth from the Big Eye Coin, TAMA. Meanwhile, despite the bearish market movement, Tamadoge has proven to produce a good record based on its sustained value. The developmental team also works towards allocating 5% of TAMA supply to environmental sustainability.
Users can use the Tamadoge native token, TAMA, to create pets, train virtual dogs, or even join the administrative team. The Tamaverse also created a battle arena where users can compete. Thus, winners are usually listed on the leaderboard segment. It is a good thing that Tamadoge users can participate in the ecosystem without paying an enormous transaction fee.
Ethereum is not only known as the second most popular cryptocurrency after bitcoin but also a platform with more than 3,000 decentralized applications. These applications involve developers building smart contracts on the existing Ethereum blockchain. Thus, most metaverse cryptocurrencies follow the ETH protocol, including Decentraland.
Ethereum developers are working towards improving the platform’s scalability and interoperability, which birthed the launch of version 2.0. Recently, Ethereum also launched its merge project, improving its Proof-of-Stake mechanism. Meanwhile, the PoS mechanism is eco-friendlier than the Proof of Work mechanism approved on the bitcoin blockchain. Since Ethereum approved the energy-efficient mechanism, several other altcoins have followed suit.
Even though Ethereum experienced a challenging period during the year’s first half, financial experts have predicted a sharp rise by the end of 2022. The application of the Ethereum ecosystem in diverse sectors, including entertainment and gaming, has also boosted its rapid adoption. However, Ethereum also experiences price fluctuations, just like every other cryptocurrency. Nevertheless, investors are encouraged to buy ETH tokens and hold to sell at a profitable rate when the market is bearish.
Cardano is the first cryptocurrency to function as a peer-review blockchain. It does not stop there but also helps to implement digital contracts. The exciting thing about Cardano is how it can validate up to 1000 transactions within one second. Thus, this contributes to its high energy efficiency characteristics.
Cardano uses the Proof of Stake mechanism like the other cryptocurrencies mentioned above. Crypto traders receive a reward based on the volume of currency they can trade per second. Meanwhile, Cardano’s founder claims coin production only requires about 6 GWh of power.
The analysis from Coinmarketcap reveals that the Cardano price surge kicked off in August 2021, with a 116% increase. Ever since then, agricultural companies have employed Cardano to track their fresh produce. Meanwhile, Cardano founders are currently focused on launching Cardano’s Vasil Hard Fork. This upgrade will possibly yield a positive hit for the digital asset. Thus, every crypto investor should look forward to earning extra gain from it.
Bitcoin’s recognition on the Guinness World Record is just one among several other global mentions. Despite the latest market fluctuations, this is a good reason to expect a cryptocurrency rebound. A cryptocurrency is a form of technology easily incorporated into the financial system. NFT and Tamadoge also keep partnering with top organizations to promote its adoption rate. As a result, users can claim ownership of their data and even contribute to building the coin’s ecosystem infrastructure. This proves the sustainable future of Web3, which would help accommodate new developments across all cryptocurrency metaverse.