An anonymous group of developers debuted the Bitcoin network in 2009. They used cryptography, proof of work, and decentralized computer networks. The principles that guided them were:
- How do we ensure a strong control of ownership of value (using cryptographic keys)?
- How do we remove intermediaries?
- How do we incentivize random people across the planet to behave in a way that most benefits the collective?
What they created was a way to mint and manage the value of a currency in an equal and distributed manner with no central authority using computer networks. Bitcoin took off, giving birth to what is now commonly referred to as blockchain technology.
Soon after, people all over the world began building…