11 Years Ago Today Satoshi Nakamoto Published The Bitcoin White Paper
Authored by Marie Huillet via CoinTelegraph,
Today, Oct. 31, marks eleven years since the publication of the Bitcoin white paper by the still-mysterious person or group pseudonymously identified as Satoshi Nakamoto.
11 years ago today… pic.twitter.com/SH2cLDmtdQ
— Bitcoin (@Bitcoin) October 31, 2019
A revolutionary text
Bitcoin: A Peer-to-Peer Electronic Cash System — published on Oct. 31, 2008 — outlined a tamper-proof, decentralized peer-to-peer protocol that could track and verify digital transactions, prevent double-spending and generate a transparent record for anyone to inspect in nearly real-time.
The protocol represented a cryptographically-secured system — based on a Proof-of-Work algorithm — in which Bitcoins (BTC) are “mined” for a reward by individual nodes and then verified by other nodes in a decentralized network.
This system contained the possibility of overcoming the need for intermediaries such as banks and…