Adoption of Bitcoin by El Salvador Immortalized by Poolin on the Blockchain
It has not even been 24 hours since the bill has been passed by the members of congress in El Salvador to legalize cryptocurrencies and Bitcoin. However, the excitement of the people of El Salvador and the entire cryptocurrency community can be witnessed worldwide.
Ever since the announcement, the entire cryptocurrency industry has been rejuvenated. It has received a push that it needed badly in order to keep making gradual progress and observe an upward trend.
With the recent passing of the bill, El Salvador has marked its name in history. It is now the first nation-state that has legalized cryptocurrencies and is now adopting them at full scale. This achievement is now also immortalized and embedded on the blockchain for the world to witness.
Blockchair, a service working as a blockchain explorer has shared some interesting data surrounding the immortalization of El Salvador’s new resolution. The firm shows that the particular block is 686,938 that has a unique message embedded. The message is in Latin, which translates to “assembly approves Bitcoin law”.
The significance of this wording is that it is the same news printed on the front pages of the newspapers issued in El Salvador. Even every other media and social media agency has the same statement.
The firm has also revealed that the Bitcoin mining pool Poolin was the one that successfully mined the particular transaction block. Poolin is currently ranked as the third-largest mining pool for Bitcoin (BTC) in terms of hash rate. Poolin was the lucky mining pool that managed to access the particular message while mining the mentioned block.
Following the approval of the bill for the legalization of cryptocurrencies and Bitcoin (BTC), a new wave is spreading across the Latin world. At first, the government officials from El Salvador have started sharing their positive opinions around Bitcoin (BTC) and altcoins.
It is not only El Salvador but entire Latin America is showing tremendous interest and support for cryptocurrencies. The government figures from all over Latin America are showing great support for Bitcoin (BTC) and altcoins.
This means that not just El Salvador, but entire Latin America has set sail on the Bitcoin cruise in order to gain more heights in the crypto-sector. The founder of Placeholder VC, Chris Burniske talked about the recent developments in Latin America in terms of crypto-adoption.
The founder of a venture capital fund based on blockchain stated that this move could prove to be a turning point for Latin America. With the help of this move, the nations in Latin America would be able to strike back at debt and dollars.
The country that uses the USD as its national currency now has a new currency it likes, admires, and may see adopted as an alternative for the USD.