The Bitcoin Whitepaper is the original document in which Satoshi Nakamoto, the anonymous creator of Bitcoin, presented the concept and functionality of this cryptocurrency and its underlying technology, blockchain. Published on October 31, 2008, the paper is titled “Bitcoin: A Peer-to-Peer Electronic Cash System.”
In this brief nine-page document, Satoshi explains how Bitcoin enables secure, direct digital transactions without the need for intermediaries, like banks or financial institutions. It outlines how the consensus mechanism based on Proof of Work operates, the use of cryptography for security, and the process of creating blocks in the blockchain.
In summary, the Bitcoin Whitepaper serves as the technical and conceptual foundation for the first decentralized digital money system, marking the beginning of the cryptocurrency and blockchain era.
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In this brief nine-page document, Satoshi explains how Bitcoin enables secure, direct digital transactions without the need for intermediaries, like banks or financial institutions. It outlines how the consensus mechanism based on Proof of Work operates, the use of cryptography for security, and the process of creating blocks in the blockchain.
In summary, the Bitcoin Whitepaper serves as the technical and conceptual foundation for the first decentralized digital money system, marking the beginning of the cryptocurrency and blockchain era.