History of Blockchain
A Comprehensive Guide to Blockchain Technology
Talking about Blockchain technology, it is undoubtedly one of the significant innovations of the twenty-first century. One cannot ignore the knock-on effect it has on different industries. Many industries including finance, manufacturing, and education are evidently implementing its application.
Not many people are aware of its long history which dates back to the early 1900s. Since its popularity began to rise a few years ago, a slew of new uses has emerged. The surge confirms the magnitude of its significance as the race for digital economies amplifies. We’ll learn about the history of Blockchain as well as its evolution in this post.
Growth Timeline of Blockchain Technology
The origin of blockchain dates back to 1991 with Stuart Haber and W Scott Stornetta. They describe for the first time a cryptographically secure chain of blocks.
They modified their system in 1992 to include Merkle trees. This increased efficiency and allowed them to collect more papers on a single block. However, owing to the activity of one person or group known as Satoshi Nakamoto, Blockchain History begins to take prominence in 2008.
Satoshi Nakamoto is to get the credit for being the brains behind Blockchain technology. Nakamoto has impacted blockchain technology fully developing into its usage in the current era. The first application of digital ledger technology starts with it. Hence, If one is to answer who created blockchain, the medal goes to Satoshi Nakamoto.