HISTORY OF BITCOIN. Bitcoin, a cryptocurrency, a digital value that works as a channel of exchange which uses cryptography in controling creation and management, it doesn't depends on central authorities. Created and implemented by Satoshi Nakamoto, he has integrated ideas from the cypherpunk platform. Bitcoin has went through huge growth and is now a significant currency. The Business Community started accepting bitcoin in mid 2010.
CREATION.
August 18th 2008, the bitcoin.org domain
was created and was registered on 31 October 2008, a link to a paper that was authored by Satoshi Nakamoto which is titled Bitcoin: A Peer-to-Peer Electronic Cash System were sent to a cryptography. The paper was a methods of how to a peer-to-peer network to create what was described as "a system for electronic transactions without depending on trust".
3 January 2009, the bitcoin network started, Satoshi Nakamoto mining the first block of bitcoin which is block number 0 and it's reward was 50 bitcoins.
9 January 2009, first open source bitcoin client was released, and was hosted by SourceForge. Hal Finney, a programmer, was among the first supporters, adopters, contributors to bitcoin and was also the to receive bitcoin transaction. He downloaded bitcoin software the day it was released, and was given 10 bitcoins from Nakamoto in what was the first bitcoin transaction on 12 January 2009. Wei Dai, he created b-money, and Nick Szabo, who created bit gold, were among early supporters of Bitcoin.
Nakamoto mined 1 million bitcoins and handed it over to developer Gavin Andresen, who became the bitcoin lead developer at the Bitcoin Foundation. A vulnerability was discovered in the bitcoin protocol, on 6 August 2010. That transactions are verified properly, it allows user to bypass bitcoin economic restrictions and create huge numbers of bitcoins.
This vulnerability was were used against it on 15th August; 184 billion bitcoins were created in a transaction and sent to two Bitcoin addresses . It was discovered and deleted from the transaction log after it was restored and the network was updated. It was the only security bridge found and that was used against it in bitcoin's history.
