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Showing posts from October, 2019

11 Years Ago Today Satoshi Nakamoto Published the Bitcoin White Paper

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 . THE REVOLUTIONARY MAIL 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 financial institutions to facilitate and audit transactions — a major disruption to a siloed, monopolized field of centralized financial power. ALL TIME HIGH PRI