The crypto ecosystem started on January 3, 2009 with Satoshi Nakamoto going public with what we know today as the Bitcoin. Over the last 13 years, the ecosystem has evolved in predominantly 3 major phases:
1. Cryptos came into existence
While governments around the world were busy printing more money, Satoshi created a decentralised payments system with a fixed max supply of the underlying currency. This system was called 'The Bitcoin'. Post Bitcoin many different cryptos came into the ecosystem like Litecoin, Namecoin, Peercoin etc.
Bitcoin Genesis Block
2. Crypto Trading started
The first bitcoin trade happened on 12th October 2009. The trade was done through Paypal!
Following this the Bitcoin Market was born, initially, the transactions were coordinated in forums and transactions were settled on Paypal. Eventually, exchanges like Coinbase, Binance, etc. came up.
First Crypto Trade
3. DeFi took over the world
With the birth of Ethereum in 2015, interesting use cases apart from payments started popping up. Applications like DEXes, Flash loans, Insurance & Collateralised Lending were just some of the new world use cases.
Centralised to Decentralised Finance
The OWN Cryptoverse will evolve in three distinct phases, in line with the evolution of the Crypto ecosystem. During each phase, players can play interesting games, earn a lot of crypto rewards & learn more about the crypto ecosystem.
To learn more about the evolution of the OWN Cryptoverse, check the Gameplay page.