Eleven years ago today, Satoshi Nakamoto — the person, or persons, responsible for creating Bitcoin — unleashed the cryptocurrency’s white paper into the wild. Published on October 31, 2008, the white paper, officially titled, ‘Bitcoin: A Peer-to-Peer Electronic Cash System,’ described a novel, immutable, decentralized peer-to-peer network that could track and verify transactions while also preventing double-spending and producing a transparent record for anyone to verify in almost real-time. Nakamoto began by outlining how e-commerce relied almost exclusively on financial institutions acting as trusted third parties to process payments. Although the system worked well enough for most transactions, it still suffered…
This story continues at The Next Web
Or just read more coverage about: Bitcoin