Bitcoins Maybe; Blockchains Likely
Denning, Peter J.
Lewis, Ted G.
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On Jan 3, 2009, Satoshi Nakamoto began selling a new form of money and operating an associated support system called the bitcoin cryptocurrency system. The name bitcoin (BTC) comes from it being digital money that can be used like coinage, and the crypto term indicates that the bits are secured by cryptographic methods. The currency has secretive roots: It is still unknown who Nakamoto was, but it may have been Harold Thomas Finney II, a known cryptologist who created a secured transaction system similar to that used in BTC exchanges, and a developer employed by the Pretty Good Privacy Corp. The records of all bitcoin transactions are compiled into blocks of about 4 megabytes in size. The linked list of all blocks going back to the beginning in 2009 is called a blockchain. Here, Lewis talks about bitcoins security and resiliency.