Bitcoin, the most important cryptocurrency in the world, recently marked the 15th anniversary of its groundbreaking white paper.
Published on October 31, 2008, this seminal document laid the foundation for the decentralized digital currency that would soon take the financial world by storm.
How it all started
Written under the pseudonym “Satoshi Nakamoto,” the Bitcoin whitepaper is titled “Bitcoin: A Peer-to-Peer Electronic Cash System.”
It covers only nine pages, but it has revolutionized the way many people view and handle money. In his concise summary, Nakamoto detailed how digital signatures could be combined with a proof-of-work system to prevent double spending, a long-standing problem with digital currencies before Bitcoin.
Interestingly, the term we so commonly associate with Bitcoin, “cryptocurrency,” is conspicuously absent from the whitepaper. Instead, Nakamoto chose to emphasize its features as “digital cash” or “electronic cash system.”
Furthermore, Nakamoto’s writings notably omit any direct mention of the word “blockchain,” although the concept is described in detail.
Over the years, this white paper has been translated into dozens of languages, a fact that underscores its global impact.
The article’s references and citations offer a rare insight into Nakamoto’s influences, including works by Hal Finney and Wei Dai.
Satoshi’s identity remains a mystery
Nakamoto is universally credited with creating Bitcoin, but he never actually obtained the copyright to the whitepaper. This hands-off approach ensured that the revolutionary concept truly belonged in the public domain.
The identity of the whitepaper’s creator remains one of the most tantalizing mysteries in the world of technology. Despite numerous theories and alleged “unmaskings” over the years, the true identity (or identities) behind Nakamoto’s pseudonym remains unknown.
This enigma adds to the lore of Bitcoin, and many in the community value the privacy it represents.
