Mommy Salvs 's avatar
Mommy Salvs
mommysalvs@bchnostr.com
npub1ch4e...5f9w
A simple human being with a good heart
Mommy Salvs 's avatar
Mommy Salvs 14 hours ago
Out of my curiosity how does the Bitcoin started : The History of Bitcoin: From The Start The idea of having a digital currency is not a new one. Prior to cryptocurrencies, many attempts at creating one have taken place. The main issue most of them were facing, was the double spending problem. A digital asset somehow needs to be usable only once to prevent copying it and effectively counterfeiting it. Over 10 years before cryptocurrencies, the concept had been introduced by computer engineer Wei Dai. In 1998, he published a paper where he discussed “B-money”. He discussed the idea of a digital currency, which could be sent along a group of untraceable digital pseudonyms. That same year, another attempt by the name of Bit Gold was drafted by blockchain pioneer Nick Szabo. Bit Gold equally looked into creating a decentralized digital currency. Szabo’s idea was spurred by inefficiencies within the traditional financial system, such as requiring metal to create coins and to reduce the amount of trust needed to create transactions. While both were never officially launched, they were part of the inspiration behind Bitcoin. for more details :