Bitcoin hasn’t aged at all – A few months later Satoshi Nakamoto published on White paper (white paper) of its peer-to-peer e-money system called ” bitcoins » the inventor intervened. It is therefore the January 3, 2009 that Satoshi was the first to issue a block from the BTC network, dubbed the ” Genesis block “.
A Planetary Network by Satoshi Nakamoto and the Genesis block
After several attempts (unfortunately failed) of digital currencies not issued by a bank or a state, the Cypherpunk movement finally found a solid milestone ago 14 years day by day, with the creation of bitcoins (BTC).
With the transmission of Genesis block », very first link of this blockchain, Satoshi Nakamoto created the first Cryptocurrency (with a capital C). Strictly respecting the ideals of decentralization, privacy protection, middleman-free transactions, and resistance to censorship, all dear to cypherpunks.
In those very first days of Bitcoin’s existence, Satoshi oddly enough it took a long time before validating the second block of the BTC network, as reported in a publication by Kraken. So, after the first foundation block, we had to wait 6 days before the ingenious inventor “excavated” the second block of this network. This, instead of 10 minutes usual (on average) between each block validation.
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14 years later, Bitcoin remains the most valuable cryptographic project
This ” extraction is one of the strengths of this blockchain, in addition to its decentralization and other cypherpunk qualities mentioned above. Indeed, every first validator of a new block of transactions is entitled to a reward in BTC, after its “ proof of work (PoW).
All of this, combined with shortage bitcoins – there will never be more than 21 million of Bitcoins -, makes thousands of miners keep the network running smoothly. This, even more than a decade after the mysterious Satoshi Nakamoto (surely?) disappeared from the radar. His last message to developer Mike Hearn was just aboutApril 2011.
Despite the creation of very many (too many) cryptocurrencies to competelike the network Ethereum (ETH), the Bitcoin king remained unbeatable. Despite the recent crypto winter – whose last major disaster was undoubtedly the fall of FTX -, the bitcoins issued to date (about 19.5 million units) are still valued above 322 billion dollars currently. The second, Ethereum, is worth $146 billion, for comparison.
But among these mined bitcoins, those of Satoshi Nakamoto remained frozen in time from his disappearance (or at least from the cessation of his communications). To the point that, as soon as BTC mined in 2009 is starting to move (thus old enough to be from the “Nakamoto era”), the entire cryptosphere peers at them in a mixture of excitement and apprehension.
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