Bitcoin origin is not really clarified

Original Bitcoin code was designed and written by person or group of people who called themselves Satoshi Nakamoto. It is not a sure thing who exactly created Bitcoin, because no one admitted that he is a creator of Bitcoin.

The idea behind Bitcoin was outlined in 2008 in the Bitcoin white paper. Original title of the document sounds “Bitcoin: A Peer-to-Peer Electronic Cash System“. This document scientifically describes how the cryptocurrency would operate.

In the Bitcoin white paper, Bitcoin is described as:

Abstract. A purely peer-to-peer version of electronic cash would allow online payments to be sent directly from one party to another without going through a financial institution. Digital signatures provide part of the solution, but the main benefits are lost if a trusted third party is still required to prevent double-spending. We propose a solution to the double-spending problem using a peer-to-peer network. The network timestamps transactions by hashing them into an ongoing chain of hash-based proof-of-work, forming a record that cannot be changed without redoing the proof-of-work. The longest chain not only serves as proof of the sequence of events witnessed, but proof that it came from the largest pool of CPU power. As long as a majority of CPU power is controlled by nodes that are not cooperating to attack the network, they’ll generate the longest chain and outpace attackers. The network itself requires minimal structure. Messages are broadcast on a best effort basis, and nodes can leave and rejoin the network at will, accepting the longest proof-of-work chain as proof of what happened while they were gone.

Bitcoin properties have core focus areas such as being permission-less, immutable, censorship resistant, decentralized, scarce, and open source.

Despite, Bitcoin is the first successful digital currency designed with trust in cryptography over central authorities it was wasn’t the first attempt at digital money in the history.
In the 1990’s individuals and groups tried to create forms of virtual cash. However, all of them failed, since they weren’t implemented successfully or ended up centralized. Centralization is not good, since it makes currency more vulnerable and exposed to potential attacks and manipulations.

It is Nakamoto who put all the pieces of the puzzle together using what his predecessors tried to build in order to create the Bitcoin protocol.

In 2010 Satoshi Nakamoto has made Bitcoin code open source, so other developers and the communities could continue building Bitcoin success.

Who created Bitcoins - Satoshi Nakamoto

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//Jan


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