Bitcoin’s White Paper Was Published 14 Years Ago

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On October 31, 2008, Satoshi Nakamoto published the Bitcoin white paper, which described how the peer-to-peer payment system worked, which later revolutionized the world of financial technology.

It is still unknown who is hiding under the pseudonym of the creator of the first cryptocurrency, and whether it is one person or a group of people.

The preface to the white paper says:

“A fully peer-to-peer version of electronic money would allow online payments to be sent directly from one party to another, bypassing financial institutions. Digital signatures provide part of the solution, but the main benefits are offset if a trusted third party is still required to prevent double spending. We propose a solution to this problem based on a peer-to-peer network. It timestamps transactions, connecting them into a continuous chain of proof-of-work based on hashing.”

The launch of the Bitcoin network took place in January 2009. Two years later, Satoshi Nakamoto disappeared.