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The first decentralized blockchain was conceptualized by a person (or group of people) known as Satoshi Nakamoto in 2008. Nakamoto improved the design in an important way using a Hashcash -like method to timestamp blocks without requiring them to be signed by a trusted party and introducing a difficulty parameter to stabilize the rate at which ...
Nakamoto's innovation was their complex interplay resulting in the first decentralized, Sybil resistant, Byzantine fault tolerant digital cash system, that would eventually be referred to as the first blockchain. [11] [17] Nakamoto's paper was not peer reviewed and was initially ignored by academics, who argued that it could not work. [11]
Hal Finney (4 May 1956 – 28 August 2014) was a pre-bitcoin cryptographic pioneer and the first person (other than Nakamoto himself) to use the software, file bug reports, and make improvements. [27] He also lived a few blocks from a man named Dorian Satoshi Nakamoto, according to Forbes journalist Andy Greenberg. [28]
The first open source bitcoin client was released on 9 January 2009, hosted at SourceForge. [23] [24] One of the first supporters, adopters, contributors to bitcoin and receiver of the first bitcoin transaction was programmer Hal Finney. Finney downloaded the bitcoin software the day it was released, and received 10 bitcoins from Nakamoto in ...
A logo for Bitcoin, the first decentralized cryptocurrency The genesis block of Bitcoin's blockchain, with a note containing The Times newspaper headline. This note has been interpreted as a comment on the instability caused by fractional-reserve banking.
The first and most widely used decentralized ledger currency, [8] with the highest market capitalization as of 2018. [9] 2011 Litecoin: LTC, Ł Charlie Lee: Scrypt: C++ [10] PoW: One of the first cryptocurrencies to use scrypt as a hashing algorithm. 2011 Namecoin: NMC Vincent Durham [11] [12] SHA-256d: C++ [13] PoW: Also acts as an alternative ...