The History of Blockchain Explained for Beginners
Blockchain technology, a revolutionary innovation at the core of decentralized systems, is best known for enabling cryptocurrencies like Bitcoin. Blockchain is a decentralized, distributed ledger that records transactions across a network of computers in a secure, immutable, and transparent way. The technology has applications well beyond digital currencies and is now being explored in fields ranging from finance and healthcare to supply chain management and even voting systems. The story of blockchain is intertwined with the emergence of Bitcoin, yet its applications have grown immensely, prompting questions about how it might reshape industries in the future. Origins and Early History of Blockchain The concept of blockchain technology was first proposed by an anonymous person or group under the pseudonym Satoshi Nakamoto in 2008, with the creation of Bitcoin, the world’s first cryptocurrency. Nakamoto introduced blockchain as a solution to a long-standing problem in digital tr...