LeoGlossary: Bitcoin White Paper

2 mo
LeoFinance
1 Min Read
138 words

The Bitcoin White Paper was released on October 31,2008. It was put out under MIT License by Satosi Nakamoto to a group of cryptographers.

This introduced the idea of Bitcoin as a "peer-to-peer (P2P) electronic cash system".

Satoshi's vision was an online payment system that utilized peer-to-peer technology, enabling payments between parties without the use of a financial institution.

Bitcoin would eventually become the world's first truly digital form of money.

The breakthrough came in solving the double-spend problem by creating distributed ledger technology which decentralized the ledger process over many different miners.

Over the ensuring years, many other blockchains were unleashed, including Bitshares, Ethereum, and Hive. We also saw the innovation of Proof-of-Stake (PoS) along with Delegated Proof-of-Stake (DPoS) to join the Proof-of-Work (PoW) consensus mechanism Satoshi laid out.

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