Bitcoin Enters Guinness Book Of World Records: Here's Everything You Need To Know

Bitcoin (BTC), the world's biggest cryptocurrency by market capitalization, has entered the Guinness Book of World Records and is now recognized as the "first decentralized cryptocurrency."

This indicates that the popularity of the leading cryptocurrency is gradually seeping into the pages of history despite the fact that its price has crashed close to 72% from last November.

"Bitcoin was developed as a solution to the challenge of regulating a digital currency without any centralized organization," the Guinness Book of World Records entry read. "Each node (i.e.,computer) represents a validator, also called, in the case of PoW, a miner."

It seems that the Guinness Book of World Records is still working its way through the technicalities of the crypto coin. Its statements regarding nodes and miners are not technically correct as a node does validate transactions but miners are separate entities that help organize the data held in the blocks on the blockchain, pointed out Bitcoin Magazine.

A major difference in the powers of miners and nodes is that a full node cannot propose new blocks being added to the blockchain but miners can.

The latest edition of Guinness World Records also included other achievements connected to BTC, including El Salvador being the first country to adopt BTC as legal tender, the first non-fungbile token being minted on the Bitcoin network, contrary to the beliefs of the crypto community, and BTC being the oldest and most valuable crypto coin.

The first commercial transaction made with Bitcoin also got a mention in the Guinness Book of World Records – Florida-based programmer Laszlo Hanyecz paid 10,000 BTC to order $25 worth of pizza in 2010.

It also recognized Bitcoin can solve the double-spend problem, one of the most basic but efficient attacks in the blockchain world.

"The Bitcoin network [solves] the double spend problem with a "trustless" mechanism that does not require any third-party (e.g., banks) to verify transactions; and it achieves that with validators (i.e., miners, in PoW)," read the entry.