Bitcoin is the first implementation of an older concept: the cryptocurrency. In 1998, Wei Dai, suggested creating a new form of money free from a central authority in line with the rise of the use of the Internet. Based on cryptography, the technology is supposed to be the first currency in which its users can control its creation and transaction.
However, it is only in 2009, that the first implementation of this concept became a reality through Bitcoin. Satoshi Nakamoto published a white paper detailing the theoretical framework and the proof of concept of the first fully digital currency in the world. Satoshi developed the project with developers from all around the world until 2010 before vanishing, letting the lead of the project to the other developers.
Satoshi remained anonymous during the entirety of the project and left without releasing much information about himself. As Bitcoin technology is open-source, his potential influence cannot be considered as a threat, but his behavior has raised interest in the Bitcoin community, which regards him as the founding father of Bitcoin.
Do people use Bitcoin?
Bitcoin is used daily by a growing number of individuals and businesses around the world, from restaurants to multinational firms such as Microsoft. In 2019, the Bitcoin market cap exceeded 138 billion dollars with a daily trade volume of 19 billion dollars.
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