Bitcoin talk about Blockchain and not Bitcoin

Bitcoinas a blockchain implementation It started in 2008, theyear we all remember for the collapse of the global financial system, whoseconsequences we still feel today. Satoshi Nakamoto, a character around whichtoday a cloud of mystery hovers (Satoshi Nakamoto would in fact be a pseudonymbehind which we still do not know who actually exists, in May 2016 CraigWright, an Australian entrepreneur and computer scientist, decided to revealthe his double identity in front of the BBC cameras, claiming to be him the manwho invented the bitcoin but no one was able to confirm it), publishes theBitcoin protocol through a white paper in which a technological architecture isdescribed to support the circulation of bitcoins, cryptocurrency (digitalcurrency whose implementation is based on the principles of cryptography tovalidate transactions and the generation of money itself) that flows freelyamong users without costs on operations and without the control of a centralbody.

¬†The architecture that’supports’ the trust distributed is the Blockchain. The great revolution, froma theoretical point of view, lies precisely in the absence of ‘intermediaries’,like a bank; the accounting book, the so-called bank ledger, ie the ledger onwhich all the accounting of a bank is registered, becomes in reality a’distributed ledger’ accessible by any user who makes a transaction and thenenters the ‘chain of distribution ‘, which is entrusted with the control of theentire system or a part of it (all the information in the’ ledger ‘isdistributed and shared by all the subjects of the network, ie by those whoparticipate in the Blockchain).Although Nakamotostarted the Bitcoin architecture (that is, the infrastructure that underliesthe bitcoin-encoded currency circulation), in a short time the concept ofBlockchain took over (identifying with it the name of the infrastructure andpreferring to talk about Blockchain and not Bitcoin to avoid being culturallyassociated only with the bitcoin currency) and more or less since 2013 is usedto describe the technological platform that underlies the mechanisms of ‘trust’that could enable new forms of exchange (currency , of goods, information,contracts, etc.) where trust is no longer placed in a central entity butdistributed among all the participants of the ‘exchange’.

We Will Write a Custom Essay Specifically
For You For Only $13.90/page!

order now

I'm Ruth!

Would you like to get a custom essay? How about receiving a customized one?

Check it out