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Bitcoin, created by the pseudonymous Satoshi Nakamoto in 2009, was the first practical implementation of blockchain technology. It introduced a peer-to-peer electronic cash system that operates without banks, governments, or any central authority.
| Date | Event |
|---|---|
| 31 October 2008 | Satoshi Nakamoto publishes the Bitcoin whitepaper: "Bitcoin: A Peer-to-Peer Electronic Cash System" |
| 3 January 2009 | The genesis block (Block 0) is mined |
| 12 January 2009 | The first Bitcoin transaction: Satoshi sends 10 BTC to Hal Finney |
| 22 May 2010 | "Bitcoin Pizza Day" — Laszlo Hanyecz pays 10,000 BTC for two pizzas |
| 2011 | Bitcoin reaches parity with the US dollar (1 BTC = 1 USD) |
| 2017 | Bitcoin reaches nearly 20,000 USD; altcoin boom begins |
| 2021 | Bitcoin reaches an all-time high of ~69,000 USD; El Salvador adopts BTC as legal tender |
Bitcoin uses the Unspent Transaction Output (UTXO) model:
Alice has 5 BTC (from a previous transaction output)
Alice wants to send 3 BTC to Bob:
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