A brief history of blockchain

Prologue

A long time ago in a galaxy far, far away…. A mysterious white paper titled “Bitcoin: A Peer-to-Peer Electronic Cash System” was released under the pseudonym Satoshi Nakamoto. The paper described, in their own words, “a system for electronic transactions without relying on trust”.

The time was November 2008 and the galaxy far, far away was the internet. This is the real life history of Bitcoin. To this day, nobody knows for sure who Satoshi Nakamoto is/was. What we do know is that the first open source Bitcoin client was released in January 2009 and over the next couple of years, Satoshi Nakamoto amassed around 1 million Bitcoins before disappearing completely from the Bitcoin scene around mid-2010. To this day, their vast Bitcoin fortune remains untouched, spread across several known Bitcoin accounts. The total value of their Bitcoin as of mid-2017 is around US$4 billion.

The History of Bitcoin

The 2009 launch of Bitcoin was the first real life application of blockchain technology. For the next five years, the history of blockchain would remain nearly synonymous with the history of Bitcoin. Below is a rough timeline of this period:

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