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As technology continues to advance rapidly, most people find it difficult to keep up. The digitalization of the world brings two undeniable advantages: efficiency and freedom. For digital currencies to truly fulfill these promises, security and decentralization are essential.
Among the various technologies available, blockchain combined with the SHA-256 cryptographic algorithm forms the backbone of modern cryptocurrencies. As of today, there are over 18,000 cryptocurrencies in existence. Among them, Bitcoin stands out as the most established and influential, often regarded as the go-to option for transactions in virtual economies.
In this article, we’ll take a deep yet easy-to-understand look at the core principles of cryptocurrency, using Bitcoin as our key example.
Now that we’ve established what cryptocurrency is and why it’s important in today’s digital world, let’s explore how it all began. To understand the current state of digital currency, we need to look at the origin story of its most iconic representative — Bitcoin.
On October 31, 2008, a person (or group) under the pseudonym Satoshi Nakamoto published a…
