BTC Pre-history

Discussion in 'About crypto currencies' started by Tengkorakfx, Mar 1, 2018.

  1. Tengkorakfx

    Tengkorakfx Well-Known Member

    Prior to the release of David Chaum and Stefan Brands. Adam Back developed hashcash, a proof-of-work scheme for spam control. The first proposals for distributed digital scarcity based cryptocurrencies were Wei Dai's b-money and Nick Szabo's bit gold. Finney developed a reusable proof of work (RPOW) using hashcash as its proof of work algorithm.

    In a bit gold proposal, Nick Szabo also investigated some additional enabling aspects including a Byzantine fault-tolerant asset to store and transfer chained proof-of-work solutions.

    Satoshi Nakamoto has suspects including Dai, Szabo, and Finney - and accompanying denials. The possibility that Satoshi Nakamoto was a computer collective in the European financial sector has also been discussed.
  2. andengireng

    andengireng Member

    Bitcoin is a digital currency created in 2009, but does not know who the founder of this currency. Satoshi Nakamoto is the one who allegedly invented the digital currency. The name has something to do with the open and Bitcoin-designed software. Early on, Bitcoin released its first 50 Bitcoins in the world produced from a system later known as "Genesis Block". To get this Bitcoin required mining digitally, every 10 minutes or so after the new Bitcoin can be distributed. Bitcoin itself is one of the first implementations called Cryptocurrency.
  3. Tengkorakfx

    Tengkorakfx Well-Known Member

    Satoshi nakamoto was supposedly the creator of bitcoin, but I heard that it was not a real name but a pseudonym, and some say that satoshi nakamoto is the name of a group or community that creates bitcoin.

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