Timeline of cryptocurrencies

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This is a timeline of cryptocurrencies.

Sample questions

The following are some interesting questions that can be answered by reading this timeline:

Big picture

Time period Development summary More details
1990s Prelude time Smart contracts are first described by Nick Szabo, who coins the term, using it to refer to "a set of promises, specified in digital form, including protocols within which the parties perform on these promises".[1][2][3]
Bitcoin era
Altcoin era

Summary by year

Year Development summary
2010–2011 Soft(ware)-wallets as wallets that are always online, in a response to unhandy paper-wallets.
2017 ERC-20 is adopted by the Ethereum community in 2017, causing a sudden occurrence of token issuances. In China, the government shuts down exchanges and trading platforms.[4]
2020 Skyrocketing exchange rates push cryptocurrency into heavy mainstream coverage across the pandemic in this year.[4]
2021 NFTs emerge into a multi-billion-dollar business in which reputable and well-known parties participate.[4]

Numerical and visual data

Google Scholar

The following table summarizes per-year mentions on Google Scholar as of November 23, 2021.

Year cryptocurrency
2008 42
2009 70
2010 59
2011 78
2012 102
2013 199
2014 743
2015 1,070
2016 1,700
2017 4,330
2018 12,100
2019 15,300
2020 13,800
Cryptocurrency gscho.png

Google Trends

The chart below shows Google Trends data for Cryptocurrency (Topic), from January 2004 to November 2021, when the screenshot was taken. Interest is also ranked by country and displayed on world map.[5]

Cryptocurrency gt.png

Google Ngram Viewer

The chart below shows Google Ngram Viewer data for Cryptocurrency, from 2000 to 2019.[6]

Cryptocurrency ngram.png

Wikipedia Views

The chart below shows pageviews of the English Wikipedia article Cryptocurrencies, from July 2015 to October 2021.[7]hello world

Cryptocurrency wv.png

Full timeline

Year Month and date Ecosystem Event type Details
1900 BC Cryptography The earliest known use of cryptography is found in non-standard hieroglyphs carved into the wall of a tomb from the Old Kingdom of Egypt.[8]
1983 Prelude American cryptographer David Chaum at the University of Berkeley, California, starts experimenting with several forms of electronic cash. He devises a token currency that individuals could transfer between themselves privately and safely. Chaum's “blinding formula” would be used to encrypt information that is transferred between individuals. This concept shares notable similarities with modern-day cryptocurrencies.[1]
1985 Zero-knowledge proofs are first conceived by Shafi Goldwasser, Silvio Micali, and Charles Rackoff in their paper "The Knowledge Complexity of Interactive Proof-Systems".[9] This paper introduces the IP hierarchy of interactive proof systems (see interactive proof system) and conceivea the concept of knowledge complexity, a measurement of the amount of knowledge about the proof transferred from the prover to the verifier. They also givethe first zero-knowledge proof for a concrete problem, that of deciding quadratic nonresidues mod m.
1990 Prelude Milton Friedman writes: “One thing we are still lacking and will soon develop is reliable e-cash—a method by which money can be transferred from A to B on the Internet without A knowing B and vice versa.”[1]
1993 László Babai and Shlomo Moran publish a landmark paper on interactive proof systems.
1996 Prelude Douglas Jackson and Barry Downey create an online platform to sell digital portions of gold coins, named e-gold. Over the next four years, e-gold would become a digital payment system with about a million users. It is the first non-credit card payment service that enables e-commerce and can be integrated into online shops. Lack of secutrity would prompt e-gold to be hacked along with its users, with no adequate protection by the insecure Windows Internet Explorer. Many e-gold customers would lose their deposits. Finally, Jackson and Downey would be brought to justice for failing to operate with a license.[1]
1997 Hashcash is introduced by Adam Back, who incorporates a Proof of Work protocol that helps verify a transaction’s validity. Hashcash would fail to remain relevant due to scalability issues. Regarded as one of the most successful pre-bitcoin digital currencies, this project would be cited in Bitcoin’s white paper.[1]
1998 Developer Wei Dai introduces the concept of an “anonymous, distributed electronic cash system” known as B-money. He proposes two separate protocols, one of which requires a broadcast channel that is “unjammable and synchronous.” This digital currency would never be successful.[1]
1998 Prelude Flooz.com issues a virtual currency as part of their marketing campaign. The value of each Flooz is tied to one dollar and those who purchase on the Flooz.com website are rewarded with Flooz coins. However, despite a multi-million-dollar advertising campaign, the currency would fail to achieve the level of adoption necessary to sustain the project, which would be finally destroyed by Filipino and Russian hackers, who made lots of purchases with stolen credit cards.[1]
2001 Ring signatures are invented by Ron Rivest, Adi Shamir, and Yael Tauman Kalai, and introduced at ASIACRYPT.[10] The name, ring signature, comes from the ring-like structure of the signature algorithm.
2007 May Satoshi Nakamoto starts coding the first implementation of Bitcoin in C++.[1]
2008 August Satoshi Nakamoto sends private emails to two renowned cypherpunks, Wei Dai and Hal Finney, requesting feedback on the early version of Bitcoin’s white paper. The request has encouraging response from both receivers, who find this work quite promising.[1]
2009 January 3 The first Bitcoin block is mined.[11]
2009 January 9 Currency release Nakamoto officially open-sources the codebase and the Bitcoin network is launched. Bitcoin (BTC) 0.1.0 is released.[1]
2009 January 12 The first-ever Bitcoin transaction to another person happens when Satoshi sends 10 bitcoins, then worth nothing, to a gentleman called Hal Finney.[11]
2009 October An initial exchange rate is fixed where anyone could get 1,309 Bitcoins for US$1.[1]
2010 May 22 The first ever recorded purchase with bitcoins happens when "Laszlo" buys a pizza worth 25 USD for 10,000 bitcoins.[11]
2010 June Bitcoin developer Gavin Andresen launches the “Bitcoin Faucet” website. By using the domain freebitcoins.appspot.com, Andresen offers visitors the opportunity to earn 5 BTC per day simply by solving a captcha.[12] Today, a crypto faucet is an app or a website that distributes small amounts of cryptocurrencies as a reward for completing easy tasks.[13]
2011 April 18 Namecoin is introduced as the first Bitcoin fork, around two years after Bitcoin's creation. Having almost everything the same as Bitcoin, it is now able to store data within its own blockchain transaction database. This fork is supposed to create the censorship-resistant domain.[11]
2011 July 28 Exchange launch Kraken launches.
2011 October 7 Currency release Litecoin (LTC) is released.[14] An early Bitcoin fork, LTC allows faster transaction processing times, with blocks mined four times more frequently, and avoiding the hashing algorithm to prevent the race to the top among miners. LTC is limited to 84 million cryptocoins.[4]
2012 June The XRP Ledger first launches.[15] It is a decentralized, public blockchain led by a global developer community.[16]
2013  ? Exchange launch Crypto exchange HitBTC launches. It provides exchange, custodial and other related services.[17]
2013 Exchange launch Gate.io launches. It is based in Malta, Illinois.[18]
2013 October 29 A Robocoin machine opens in the Waves coffee shop in downtown Vancouver, Canada. This machine is understood to be the world's first publicly available Bitcoin ATM.
2013 December Currency launch Open-source digital currency Dogecoin (DOGE) is forked from Litecoin. Based on the popular "doge" Internet meme, the open-source digital currency is created by Billy Markus from Portland, Oregon and Jackson Palmer from Sydney, Australia.[19]
2014 January Currency launch Dash (DASH), whose name comes from "digital cash," is launched as a fork of Litecoin.[20]
2014 January Exchange launch LedgerX is founded.[21] It is a digital currency futures and options exchange and clearinghouse regulated by the US Commodity Futures Trading Commission.[22]
2014 April Currency launch Monero (XMR) is launched, with the goal to "allow transactions to take place privately and with anonymity."[23][24]
2014  ? Wallet (hardware) launch Ledger is launched.[25]
2014 July Stablecoin Currency launch Stablecoin Tether (USDT) is launched by Brock Pierce, Reeve Collins and Craig Sellars, originally launched as a Realcoin. It mirrors the price of the U.S. dollar, and is issued by a Hong Kong-based company Tether.[26]
2014 July 15 Currency launch Filecoin (FIL) is initially released.[27]
2014 July 29 Wallet (hardware) launch The first generation of Trezor is first released.[28]
2014 July 31 Currency launch Network system Stellar (XLM) is launched by Jed McCaleb, the founder of Mt. Gox and co-founder of Ripple.[29]
2014 Exchange launch South Korea-based cryptocurrency exchange platform Bithumb launches.[30]
2014 Exchange launch Bittrex is founded.[31]
2014 Exchange launch Poloniex is founded. It is a global crypto-to-crypto exchange headquartered in Seychelles.[32]
2014 August 25 Vitalik Buterin proposes the problem of creating a "unique identity system" for cryptocurrencies, which would give each human user one and only one anti-Sybil participation token.[33]
2015 March 31 Currency launch NEM (XEM) mainnet goes live.[34]
2015 April The Sigma protocol (one-out-of-many proofs) is introduced.[35]
2015 May 29 Ross Ulbricht is imprisoned to a life sentence for money laundering and drug trafficking with cryptocurrencies.[11]
2015 July 30 The Ethereum network goes live.[36]
2016 February Currency launch Blockchain-based cryptocurrency Decred (DCR) is launched. The token and protocol are created to facilitate open governance, community interaction, and sustainable funding policies.[37]
2016 May Wallet launch imToken is launched as a light cryptocurrency wallet for Ethereum-based cryptocurrencies and decentralized applications (dApps), Bitcoin, and EOS. The manufacturer is headquartered in Hangzhou, China.[38]
2016 June Currency launch VeChain (VET) launches.[39] It is a blockchain platform designed to enhance supply chain management and business processes.[40]
2016 June Currency launch Waves (WAVES) is launched.[41] It is an open blockchain protocol and development toolset for Web 3.0 applications and decentralized solutions.[42]
2016 Summer An investment vehicle called the DAO (Decentralized Autonomous Organization) is conceived.[11]
2016 "Zero-knowledge proofs were applied in Zerocoin and Zerocash protocols which culminated in the birth of Zcoin (later rebranded as Firo in 2020) and Zcash cryptocurrencies in 2016. Zerocoin has a built-in mixing model that does not trust any peers or centralised mixing providers to ensure anonymity."
2016 September Cryptocurrency wallet Metamask is created.
2016 October 28 Currency launch Zcash (ZEC) is first released. It is originally based on Bitcoin’s codebase.[43]
2017 January 10 Between January 10, 2017 and October 18, 2018, Monero uses Ring Confidential Transaction technology to obfuscate transaction amounts on the blockchain. This allowed only the sender and recipient of the funds to know the true quantity being sent.[44] The currency would since switch to Bulletproofs.[45]
2017 April 24 Currency launch Gnosis (GNO) tokens are first released for sale.[46]
2017 April 29 The first text using the term proof of personhood is published, proposing an approach based on pseudonym parties.[47]
2017 May "Litecoin community. This helps with innovation but also gets criticized by those who rather see a cryptocurrency be more decentralized. Litecoin was the first top-5 cryptocurrency based on market capitalization to adopt Segregated Witness (SegWit) in May 2017, and then also adopted the Lightning Network shortly after. Depending on its innovation, Litecoin could definitely keep its place among the top."[11]
2017  ? Guarda Wallet is launched.[48]
2017 July 7 Security “One of the Biggest Ethereum and Bitcoin Exchanges Got Hacked” [49]
2017 July 14 Exchange Binance is launched.[50]
2017 August Currency launch Bitcoin Cash (BCH) is forked from Bitcoin Core, in order to modify the protocol to devote more storage in each block to transactions, dramatically increasing the transaction processing rate.[4]
2017 September 27 Currency launch Cardano (ADA) is released. "Launched in 2017 by one of Ethereum’s co-founders, Cardano is a research-driven proof-of-stake blockchain designed for running smart contracts and building decentralized applications. It consumes less energy than proof-of-work blockchains and already has some interesting use cases. The project, along with its native cryptocurrency ADA, has generated enthusiasm in the community, which can be seen at times in its price history."[51]
2017 October Blockchain platform Currency launch Polygon (MATIC) is launched.[52] It is an Ethereum token that powers the Polygon Network — a protocol and framework for building and connecting Ethereum-compatible blockchain networks.[53]
2017 October Ethereum adds so-called zk-snarks (zero-knowledge- snarks) with their Byzantium update.[11]
2017  ? Currency launch "BNB was launched through an initial coin offering in 2017, 11 days before the Binance cryptocurrency exchange went online"[54]
2017  ? Exchange launch OKEx is launched. It is based in Seychelles.[55]
2017 September Decentralized finance protocol Currency launch Synthetix (SNX) network is launched by Kain Warwick under the name Havven (HAV). About a year later the company would be rebranded to Synthetix. A decentralized finance (DeFi) protocol, Synthetix provides on-chain exposure to a wide variety of crypto and non-crypto assets. The protocol is based on the Ethereum (ETH) blockchain.[56]
2017 September Currency launch The Qtum (QTUM) platform goes live.[57]
2017 September "The KuCoin Exchange opened for cryptocurrency trading in September 2017 which located in Seychelles."[58]
2017 November Currency launch "Aave (which means “ghost” in Finnish) was originally known as ETHLend when it launched in November 2017, but the rebranding to Aave happened in September 2018. (This helps explain why this token’s ticker is so different from its name!)"[59]
2017 November Wallet Trust Wallet launches and immediately gains significant user adoption.[60]
2017 December 18 Stablecoin Currency launch Dai (DAI) and its associated smart contracts are officially launched on the main Ethereum network.
2017 December Currency launch Maker (MKR) is launched.[61]
2018 January Currency launch Huobi Token (HT) is launched.[62]
2018 January Stablecoin Currency launch TrueUSD (TUSD) is first launched.[63] It is a United States dollar-backed ERC20 stablecoin that is fully collateralized, legally protected, and transparently verified by third-party attestations.[64]
2018 January 31 Currency launch EOS (EOS) is launched.[65] It is a blockchain-based, decentralized platform used to develop, host, and run business applications, or dApps.[66]
2018 February Cobo Wallet is launched.[67]
2018 April 29 The Nexo platform is launched, offering the world’s first instant crypto-backed loans.[68]
2018 June Tron is launched. It is a blockchain-based smart contract platform for powering decentralized applications, or DApps, competing with similar platforms such as Ethereum, Tezos, Cardano and EOS.[69]
2018 June Currency launch Arweave (AR) is launched.[70] It is a Decentralized Storage Network (DSN) that connects people who have extra available computer disk space with those who need more computer storage.[71]
2018 June Currency launch "Quant (QNT) launched in June 2018 with the goal of connecting blockchains and networks on a global scale, without reducing the efficiency and interoperability of the network. It is the first project to solve the interoperability problem through the creation of the first blockchain operating system."[72]
2018 June Currency launch Enjin Coin (ENJ) is launched on the Ethereum mainnet.[73]
2018 June Celsius (CEL) is launched.[74]
2018 June ZT is launched. It is a centralized exchange based in Hong Kong.[75]
2018 June 30 Currency launch Tezos (XTZ) is launched.[76]
2018  ? Wallet Cryptocurrency wallet SafePal is launched.[77]
2018 July BitTorrent is purchased by blockchain platform TRON.[78]
2018 August Exchange launch BitMax (later AscendEX) is launched.[79]
2018 September Currency launch Pax Dollar (USDP) is released. It is a flat-collateralized stablecoin.[80]
2018 October Stablecoin Currecy launch HUSD first launches as a stablecoin solution available on Huobi Global exchange.[81]
2018 November 2 Decentralized finance Decentralized trading protocol Uniswap (UNI) is launched. It is known for its role in facilitating automated trading of decentralized finance (DeFi) tokens.[82][83]
2018 November–December Currency launch Crypto.com Coin (CRO) goes live.[84] It is an Ethereum token that powers Crypto.com Pay, a payment service that offers cashback and other rewards to users for paying and getting paid in crypto.[85]
2018 December 13 2018 Bitcoin bomb threats
2019 January 31 Wrapped Bitcoin (WBTC) is officially launched.[86]
2019 February IOST (IOST) launches its mainnet.[87] It describes itself as an “ultra-fast,” fully fledged and decentralized blockchain network and ecosystem with its own nodes, wallets and based on the “next-generation” consensus protocol dubbed “proof-of-believability.”[88]
2019 March Cosmos (ATOM) is released.[89]
2019 March "Theta (THETA) is a blockchain powered network purpose-built for video streaming. Launched in March 2019, the Theta mainnet operates as a decentralized network in which users share bandwidth and computing resources on a peer-to-peer (P2P) basis.The project is advised by Steve Chen, co-founder of YouTube and Justin Kan, co-founder of Twitch."[90]
2019 April Terra (LUNA) is launched.[91]
2019 April 18 Bitcoin BEP2 (BTCB) is launched.[92]
2019 May 8 FTX Token (FTT) is launched.[93]
2019 May Chainlink (LINK) is launched.[94]
2019 June Zilliqa (ZIL) platform launches its mainnet.[95]
2019 June Harmony (ONE) mainnet is launched.[96]
2019 June Currency launch UNUS SED LEO (LEO) launches. Unlike many other cryptocurrencies out there, it is not designed to exist forever.[97]
2019 June The Algorand (ALGO) mainnet becomes live.[98]
2019 June Currency launch Klaytn is launched. It is a public blockchain platform which provides an accessible user experience and development environment in order to convey the value of blockchain technology.[99]
2019 July "The Helium (HNT) mainnet is launched. It allows low-powered wireless devices to communicate with each other and send data across its network of nodes.[100]
2019 September Currency launch Hedera Hashgraph (HBAR) first launches open access to its mainnet.[101]
2019 December Fantom (FTM) launches its mainnet.[102]
2019  ? Wallet MathWallet is launched. It is a multi-platform crypto wallet that supports more than 50 public blockchains.[103]
2020 January Curve DAO Token (CRV) is launched. It is a decentralized exchange for stablecoins that uses an automated market maker (AMM) to manage liquidity.[104]
2020 January Wallet Coin98 wallet is launched.[105]
2020 March Visa begins allowing settlements, or payments from a merchant bank to the Visa network, using USD Coin starting with Crypto.com, a crypto platform and credit-card issuer that links cryptocurrency holdings with payments and member benefits.[4]
2020 April Solana is launched.[106]
2020 April Currency launch Celo (CELO) mainnet is launched. A blockchain ecosystem for DeFi[107], Celo focuses on increasing cryptocurrency adoption among smartphone users.[108]
2020 April 22 Currency launch NEAR Protocol (NEAR) launches its mainnet, with 1 billion NEAR tokens created at genesis.[109]
2020 May Wallet Swipe wallet is launched.[110]
2020 May 26 The Genesis block of the Polkadot network is launched, as a Proof of Authority (PoA) network.[111]
2020 July 30 Elrond (EGLD) launches its mainnet.[112]
2020 August Currency launch Shiba Inu (SHIB) coin is created anonymously under the pseudonym “Ryoshi.” The meme coin would quickly gain speed and value as a community of investors becomes attacted, in addition to headlines and Tweets from personalities like Elon Musk and Vitalik Buterin.[113]
2020 November Axie Infinity (AXS) starts trading.[114]
2020 September TerraUSD (UST) is launched.[115]
2020 September Currency launch SushiSwap is launched as a fork of Uniswap.[116]
2020 September PancakeSwap (CAKE) launches.[117]
2020 September Avalanche (AVAX) launches its mainnet.[118]
2020 September BakeryToken (BAKE) is launched. It is a part of the BakerySwap ecosystem.[119]
2020 September As of date, there are over 7,000 altcoins in existence.[1]
2020 November An academic paper estimates that up to date over US$10 billion has been stolen in cryptocurrency fraud.[120]
2020 December 17 The Graph (GRT) is launched.[121]
2020 December The Mandala Exchange opens for trading. It is based in Seychelles.[122]
2021 January 27 Flow (FLOW) starts trading.[123]
2021 January 31 Cryptocurrency wallet European blockchain startup Elrond announces the official launch of the Maiar wallet.[124]
2021 February 25 The estimated number of global crypto users surpasses 100 million.[125]
2021 March "PayPal said it would allow most customers who were in the United States to pay most U.S.-based businesses using Bitcoin, Bitcoin Cash, Ether, or Litecoin."[4]
2021 April 29 Cryptocurrencies hit a valuation of US$2 trillion, about the same valuation as all US dollars in circulation. However, it would since hit as high as $2.25 trillion.[126]
2021 March 23 Mina (MINA) protocol is launched.[127]
2021 May 10 Internet Computer (ICP) genesis.[128]
2021 December 20 Wallet "On December 20th, 2021, the Frontier wallet V2 was launched"[129]
2022 May Notable case TerraUSD and Luna both collapse, wiping out almost $45 billion of market capitalization over the course of a week.

Meta information on the timeline

How the timeline was built

The initial version of the timeline was written by User:Sebastian.

  • Base literature:
    • An Introduction to Cryptocurrencies: The Crypto Market Ecosystem (2020), by Nikos Daskalakis and Panagiotis Georgitseas.
    • The Cryptocurrency Revolution (2021), by Rhian Lewis.
  • Main consulting website: coinmarketcap.com

Funding information for this timeline is available.

Feedback and comments

Feedback for the timeline can be provided at the following places:

  • FIXME

What the timeline is still missing


Timeline update strategy

See also

External links

References

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