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Few people know about it, but cryptocurrency has become a by-product of another invention. Mr. Satoshi Nakamoto is an unknown inventor of Bitcoin. Bitcoin is the first and most important cryptocurrency and is not intended to invent currency.
According to a statement made by Bitcoin at the end of 2008, Satoshi said he developed a “peer-to-peer electronic cash system.”
His goal is to create something. Many people fail to create before digital cash.
We announced the first release of Bitcoin, a new electronic cash system that uses a peer-to-peer network to prevent double spending. It will be fully distributed even without server or central authority.
The most important part of Satoshi’s invention was that he found a way to build a distributed digital cash system. In the 1990s, there were many attempts to create digital currencies, but they all failed.
… After being trusted by a third-party system for more than 10 years, it is considered to be the reason that it is lost after it is no longer running. This is the first time I know that we are trying a system that is not based on trust, and I hope they can distinguish between them.
After seeing all the failed attempts, Satoshi tried to build a digital caching system without a central entity. Just like a peer-to-peer network for file sharing.
This decision is the birth of cryptocurrency. This is part of Satoshi’s discovery of the lack of digital cash. The reason is a bit technical and complex, but if you understand it, the knowledge of cryptocurrency will be more abundant than most people.