The phenomenon of cryptocurrencies began in the 1980s with cryptographer David Chaum, who proposed a version of cryptographic money called eCash. This idea aimed to protect user privacy in electronic transactions. Although eCash did not thrive, it laid the groundwork for future innovations.
Development of cryptocurrencies
- 1983: David Chaum creates a blind digital signature and launches an electronic monetary cryptographic system called eCash, used as a micropayment system in a U.S. bank between 1995 and 1998.
- 1990: Chaum founds Digicash, a pioneering company in developing a digital currency that allowed payments without intermediaries.
- 1998: Nick Szabo proposes "bit gold," a type of decentralized digital currency that solves cryptographic problems and is considered a precursor to Bitcoin.¹ ²
The era of Bitcoin
- 2008: Satoshi Nakamoto, a pseudonymous developer, publishes a paper titled "Bitcoin: A Peer-to-Peer Electronic Cash System," describing the Bitcoin blockchain.
- 2009: The first block of Bitcoin, known as the "genesis block," is mined on January 3, and the first transaction occurs nine days later when Satoshi sends 10 BTC to cryptographer Hal Finney.
- 2010: The Bitcoin community grows, and on May 22, Laszlo Hanyecz makes the first known commercial transaction using Bitcoin, buying two pizzas for 10,000 BTC.³
Growth and evolution
- Starting in 2011, new cryptocurrencies are launched such as Litecoin and Peercoin, introducing innovations like proof of stake.
- The popularity of Bitcoin and other cryptocurrencies continues to grow, and their use expands globally.#ProjectCrypto #Write2Earn #write2earn🌐💹 #Shibalnu #shiba⚡