To begin with, Satoshi Nakamoto, individual or a group of individuals behind that alias did not created Bitcoin single-handedly. Yes, Satoshi Nakamoto did open white paper and brought the concept of free digital currency to the world, but the creation of Bitcoin as it is today only started at that point.

Satoshi Nakamoto opened Bitcoin by publishing white paper, but before that he or them, wrote an entire Bitcoin code on which it is based. That happened back in 2008. We can consider that year as the birth year of Bitcoin. The concept of Bitcoin was all about the freedom. From Satoshi’s white paper we can see that even back then he describes Bitcoin as “purely peer-to-peer transaction system that would allow online payments to be sent directly from one party to another without going through financial institution”. Before Bitcoin there have been several attempts to create electronic currency even back in the 1990s. Nakamoto did manage to learn from those attempts and overcome their flaws while designing Bitcoin.

Still, the creation and the development of Bitcoin did not finished then. It has just begun. Opening white paper, Nakamoto allowed every enthusiast of his kind to proceed to develop Bitcoin further. Until this day, there are still hundreds of developers working on the network. Satoshi Nakamoto ceased his participation in the Bitcoin development all the way back in 2010. His last post was about concerns of Bitcoin future where he stated that the future of Bitcoin is in good hands. For the development of the Bitcoin the key factor was the fact that everyone’s opinion is important. That is how blockchain technology works. It is needed consensus between developers on every big step.

So, Satoshi Nakamoto did not create Bitcoin single-handedly, he offered a frame through which people could think and create. Bitcoin was created by hundreds of individuals who had the knowledge, ability and a vision of future.


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Posted by Min Park

Blockchain Marketing Specialist / ICON ($42M) / MediBloc ($25M) / BOScoin ($12M) / PAXchain ($60M) / Krown Media / :0

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