Recently, the Senate Banking, Housing, and Urban Affairs Committee held a hearing on "Exploring the Cryptocurrency and Blockchain Ecosystem". In the hearing, Peter Van Valkenburgh, the Director of Research at CoinCenter spoke about the regulatory issues which were affecting the cryptocurrency ecosystem and the public blockchain network.
According to him, Bitcoin was the first cryptocurrency in the world and its functioning was possible because of the world's first public blockchain network.
It was created to send and receive value to anybody in the world with the help of a computer and a basic internet connection. Furthermore, Bitcoin was revolutionary because it removed the role of a middleman.