Eugene Netso
Eugene Netso 2 minutes reading from Bitcoin

The History of Blockchain Over 40 Years

⚡️Crypto history 101⚡️

It is commonly believed that blockchain began with Bitcoin.

But not many people know that Bitcoin combined 40 years of scattered discoveries and research.🤯

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It all started with Cryptography – the practice and study of techniques for secure communication in the presence of adversarial behavior. First there was symmetric-key algorithm – it uses same cryptographic keys for both the encryption and the decryption.

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Then there was Public Key Cryptography – all the cryptocurrencies and modern security systems are built based on it. And it is the fact that such a cryptosystem can exist that has given humanity the enormous potential to build fairer, more just and open systems.

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Long before Bitcoin, a community of enthusiasts had formed among cryptographers who saw that open cryptography could become one of the greatest tools for redistributing power on the planet – obviously primarily through the creation of non-government-controlled money (1)


and data environment (2).

The second was realized a few years later in the form of the Internet as we know it today.

It took about twenty more years of trial and error to solve the problem of launching an independent and anonymous monetary system.

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This post is based on this twitter thread.


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