1 it is a decentralized digital currency without a central bank or single administrator that can be sent from user to user on the peer to peer bitcoin network without the need for. Bitcoin is a cryptocurrency invented in 2008 by an unknown person or group of people using the name satoshi nakamoto and started in 2009 when its implementation was released as open source software. Digital signatures provide part of the solution but the main.
A purely peer to peer version of electronic cash would allow online payments to be sent directly from one party to another without going through a financial institution. Over the course of bitcoin s history it has undergone. It was invented and implemented by the presumed pseudonymous satoshi nakamoto who integrated many existing ideas from the cypherpunk community.
Bitcoin is a cryptocurrency a digital asset designed to work as a medium of exchange that uses cryptography to control its creation and management rather than relying on central authorities. A peer to peer electronic cash system the paper that first introduced bitcoin satoshi nakamoto s original paper is still recommended reading for anyone studying how bitcoin works. You can read the very fundamentals of the project in the english original and several translations that are available e g.
This is the so called bitcoin paper originally written by satoshi nakamoto. Nakamoto was active in the development of bitcoin up until december 2010. In the process nakamoto was the first to solve the double spending problem for digital currency using a peer to peer network.
As part of the implementation nakamoto also devised the first blockchain database. Satoshi nakamoto is the name used by the presumed pseudonymous person or persons who developed bitcoin authored the bitcoin white paper and created and deployed bitcoin s original reference implementation. Ive been working on a new electronic cash system thats fully peer to peer with no trusted third party.
On that day a pseudonym made the now famous announcement to the world. A little known fact about bitcoins history is the very significant date of bitcoins white paper halloweens october 31st 2008. A peer to peer electronic cash system it became what we today know as bitcoin the largest cryptocurrency in the world.
11 years ago the official bitcoin white paper was released.
Bitcoin whitepaper date. Released on october 31st 2008 satoshi nakamoto s white paper marks the birth of bitcoin as we know it today. Authored under the pseudonym satoshi nakamoto the creator s identity is unknown to this day. Despite this the bitcoin white paper is a revolutionary document that marks the beginning of the age of digital currency. Many of the details associated with bitcoin s creation such as the explanation for why satoshi chose halloween as the actual paper publication date remain unanswered.
Many of the details associated with bitcoin s creation such as the explanation for why satoshi chose halloween as the actual paper publication date remain unanswered. Despite this the bitcoin white paper is a revolutionary document that marks the beginning of the age of digital currency. Authored under the pseudonym satoshi nakamoto the creator s identity is unknown to this day.
Released on october 31st 2008 satoshi nakamoto s white paper marks the birth of bitcoin as we know it today.
