Bitcoin Whitepaper Explained: A Peer-to-Peer Electronic Cash

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At the time of this publication, bitcoin has a multi trillion-dollar market cap and is well known across the globe.

This summary of the bitcoin whitepaper serves to help the reader better understand its original purpose and function.

The original whitepaper was authored by Satoshi Nakamoto, a pseudonym to an unknown person or collective, and published to a cryptography mailing list on 18th August 2008. The bitcoin network was created on 3rd January 2009 when Satoshi mined the starting ‘genesis’ block. The block was embedded with a citation to a recent headline from a UK newspaper reading “The Times 03/Jan/2009 Chancellor on brink of second bailout for banks”. The first bitcoin transaction was 10 bitcoins sent from Satoshi to an early developer named Hal Finney on 12th January 2009.

The first known commercial use of bitcoin was to purchase 2 pizzas from the US based franchise, Papa Johns for BTC10,000 on 22nd May 2010 by US programmer Laszlo Hanyecz. In 2010 Satoshi mysteriously ceased contributing to the development of Bitcoin and its community, declaring a US software developer named Gavin Andresen as lead developer in his place. He stepped back from this role in April 2014 with Dutch programmer Wladimir J Van Der Laan taking the reins and continuing in the role to the time of this publication. Bitcoins code remains opensource and is constantly evolving, with updates and changes requiring network consensus to be implemented. Since its publication, the Bitcoin whitepaper has been widely cited and is considered a seminal document in the development of cryptocurrency and blockchain technology. It has inspired numerous other digital currency projects and has contributed to a growing interest in decentralized, peer-to-peer systems for financial transactions.

ASIN ‏ : ‎ B0C3FK6TV5
Accessibility ‏ : ‎ Learn more
Publication date ‏ : ‎ April 23, 2023
Language ‏ : ‎ English
File size ‏ : ‎ 307 KB
Screen Reader ‏ : ‎ Supported
Enhanced typesetting ‏ : ‎ Enabled
X-Ray ‏ : ‎ Not Enabled
Word Wise ‏ : ‎ Not Enabled
Print length ‏ : ‎ 32 pages
Page Flip ‏ : ‎ Enabled
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