On January 3, 2009, the first block on the bitcoin blockchain was mined by Satoshi Nakamoto, the anonymous founder of Bitcoin (BTC). Then, on January 12, 2009, Nakamoto sent the very first bitcoin transaction.

Do you want to read more about the 15th anniversary of Bitcoin? Then keep reading!

The Origin of Bitcoin

On August 18, 2008, the domain name "bitcoin.org" was registered. On that domain name, the whitepaper "Bitcoin: A Peer-to-Peer Electronic Cash System" was published. This whitepaper described the solution to a problem that the founders encountered.

Bitcoin: the solution to a major problem

Satoshi Nakamoto believes that online trade has become heavily reliant on financial institutions, which serve as trusted third parties to process electronic payments.

Bitcoin (BTC) is a digital currency based on a Peer-to-Peer network that aims to provide a solution to the involvement of third parties. Through Bitcoin, users can complete transactions without the involvement of a central authority.

Users can transfer BTC to another user, use it to pay for goods in stores and on digital platforms. In addition, Bitcoin can also be used as a means of storing value, similar to a savings account. Transactions with Bitcoin are partially anonymous, although all transactions are visible on the public ledger, the user's personal identity is not linked to the unique password key.

Satoshi Nakamoto

To this day, it is unknown who is behind the name Satoshi Nakamoto. The whitepaper that described the network and the digital currency was published under the name Satoshi Nakamoto. However, this is not a real person, but an alias for the developer or group of developers of the cryptocurrency. Although the founder of Bitcoin has never come forward with conclusive evidence, there are some individuals who are seen as potential Satoshis.