What started out as just Shaun Gilchrist’s hobby is developing to become the world’s first and premier price index for Bitcoin , BitcoinAverage.
Basic physics describes how a simple innocent bathtub immersion inspired an innovation that has affected mankind. Archimedes did not set out to discover the principle of floatation, but ships are built today based on the principles he discovered. Global Bitcoin Price Index
“There was no funding involved, it was created initially as a hobby. I wanted to provide it to the community to do my part for bitcoinCT r: 8 ,” said Shaun Gilchrist, founder and CEO of BitcoinAverage , whose Global Bitcoin Price Index (GBX) was the first of its kind in the industry and is still the most widely used price source for the cryptocurrency .
Gilchrist explains: “There was truly no goal to monetise the project, it was open source and even access to the application program interface (API) was completely free, three years later, it still is.” BitcoinAverage
According to expert, Brandon Kostinuk, of Vanbex , under expressed demand, the industry-leading system is set to kick off with pioneering changes including major upgrades to its system, soon.
Hardened investors to hobbyist users of Bitcoin will find these newest developments exciting prospects for the data-driven side of the ecosystem.
Kostinuk continues by identifying that they may also seem like predictable innovations for the world’s most valuable, yet volatile, cryptocurrency. Yet, as simple as that goal may appear, creating an index for a decentralized, globally used and traded cryptocurrency, involves substantial forethought and ingenuity, especially to travel from selfless dedication to an unparalleled index architecture.
It also looks as if BitcoinAverage is poised to sustain itself as the industry frontrunner and secure the status as the de facto index choice for Bitcoin users, traders, investors and more. Brandon Kostinuk, […]
