Cryptocurrencies (Bitcoin)

Now a days Cryptocurrencies are making a great mark on global markets but only the four are pioneers,

• Bitcoin
• Etherium
• Lite coin
• Ripple

Talking about bitcoin lets have some look on its history;

Prior to the release of bitcoin there were a number of digital cash technologies starting with the issuer based ecash protocols of David Chaum ^[2] and Stefan Brands. Adam Back developed hashcash, a proof-of-work scheme for spam control. The first proposals for distributed digital scarcity based cryptocurrencies were Wei Dai's b-money^[3] and Nick Szabo's bit gold.^[4][5] Hal Finney developed reusable proof of work (RPOW) using hashcash as its proof of work algorithm.^[6]

In the bit gold proposal which proposed a collectible market based mechanism for inflation control, Nick Szabo also investigated some additional enabling aspects including a Byzantine fault-tolerant asset registry to store and transfer the chained proof-of-work solutions.^[5]

There has been much speculation as to the identity of Satoshi Nakamoto with suspects including Wei Dai, Hal Finney and accompanying denials.^[7][8] The possibility that Satoshi Nakamoto was a computer collective in the European financial sector has also been bruited.^[9]

While these was some hard struggles that lead to the success of bitcoin.Well now we take a look at its Creation;

In November 2008, a paper was posted to a cryptography mailing list^[10] under the name Satoshi Nakamoto titled Bitcoin: A Peer-to-Peer Electronic Cash System. This paper detailed methods of using a peer-to-peer network to generate what was described as "a system for electronic transactions without relying on trust".^{[11][12][13][14]} In January 2009, the bitcoin network came into existence with the release of the first open source bitcoin client and the issuance of the first bitcoins,^{[12][15][16][17]} with Satoshi Nakamoto mining the first block of bitcoins ever (known as the genesis block), which had a reward of 50 bitcoins.

Well this is some serious struggle for success..

we will talk about its pros and cons as well as about its marketing value later..

Have fun guyz