Birth of blockchain
On October 31, 2008, the founder of BTC, Satoshi Nakamoto published the “BTC White Paper”, proposing “an electronic cash system that is completely realized through peer-to-peer technology, which enables online payment to be initiated directly by one party and paid to another one party without any financial institutions as third party, that is, the so-called decentralized payment system; he also described the technology that constitutes blockchain, such as 'hash function, distributed ledger, blockchain, asymmetric encryption, proof of workload', etc.
On January 3, 2009, the founding block of BTC was dug up. On January 12, 2009, the first transfer transaction took place in the 170th block, which opened its booming era as a peer-to-peer value exchange network. With a fixed production of 21 million, the BTC system is seen as an experiment to solve inflation. In the first few years, BTC was in the stage of a technical experiment involving a very small number of people. The relevant commercial activities have not really begun, so did the application of blockchain technology.
Germination of blockchain
From 2009 to 2013, BTC mining and trading gradually becoming scale in global, and blockchain technology based on BTC transactions was also receiving attention from global financial giants.
On February 6, 2010, BTC's first trading platform appeared. In July of the same year, Mt.Gox was established, which marked the official inflow of BTC into the market. The value of BTC was gradually taken seriously, and prices also rose. According to network statistics, since 2011, the price of BTC on March 31 of each year is 0.70 US dollars, 4.9 US dollars, 93 US dollars, 243 US dollars, 417 US dollars, 1020 US dollars, 7003 US dollars.
But in 2010, the mining and research on BTC focused on a small number of geeks, as did the study of blockchain.
In 2011, the application of blockchain in digital currency increased. In 2013, the popular digital currency included BTC, LTC, etc., which had the same implementation principle in technology, and this improved BTC.
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