On Halloween 2008, Satoshi Nakamoto published the Bitcoin white paper By Blockmarket

by time news

2023-11-01 01:41:27

© Reuters. No Halloween de 2008, Satoshi Nakamoto publicava o white paper do Bitcoin

Blockmarket – On October 31, 2008, Satoshi Nakamoto, the still anonymous creator of , published the cryptocurrency’s white paper on a cryptography discussion list. The white paper was hosted on the Bitcoin.org website, where it remains today.

Satoshi published at the time:

“I am working on a new electronic money system that is completely peer-to-peer without a trusted third party.”

Under the title: “Bitcoin: A Peer-to-Peer Electronic Money System”, Satoshi described the basic workings of Bitcoin. Despite being quite comprehensive, the document did not specify many details present in the cryptocurrency.

Interestingly, Satoshi published the white paper on Halloween. There are several speculations about why Satoshi chose the date. One of them is that this was also the day that Martin Luther preached the 95 theses, laying the foundations for the Protestant Reformation.

In the same way that Luther was challenging the power of the Catholic Church, Satoshi was challenging the power of central banks. Indeed, a decentralized digital money could achieve the separation of money and state, laying the foundation for a new era of humanity, and Satoshi knew about this possibility.

Check out the first paragraph of the document, which gave rise to the entire cryptocurrency industry:

“Abstract. A purely peer-to-peer version of electronic money would allow online payments to be sent directly from one person to another without needing to go through a financial institution, such as banks, for example. Digital signatures offer part of the solution, but the key benefits are lost if a trusted intermediary is still needed to prevent double spending.”

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Por Blockmarket

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