About Lesson
The History of Blockchain and Bitcoin
Blockchain technology was first conceptualized in 2008 by an anonymous entity known as Satoshi Nakamoto in a whitepaper titled “Bitcoin: A Peer-to-Peer Electronic Cash System.” Nakamoto’s innovation was the use of blockchain to create a decentralized digital currency, Bitcoin.
Bitcoin operates on a blockchain network where transactions are recorded chronologically and secured using cryptographic hashing. The first Bitcoin block, known as the “Genesis Block,” was mined in January 2009, marking the beginning of the blockchain era.
Key Milestones in Blockchain History:
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2008: Bitcoin whitepaper published.
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2009: Bitcoin network launched.
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2015: Ethereum introduced smart contracts.
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2020s: Expansion into various industries beyond cryptocurrency.
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