$BTC
The Bitcoin whitepaper, written by Satoshi Nakamoto, introduces Bitcoin as a peer-to-peer electronic cash system designed to allow online payments to be sent directly from one party to another without relying on financial intermediaries. It explains how Bitcoin solves the double-spending problem through a decentralized network using cryptographic proof instead of trust, where transactions are grouped into blocks and secured by Proof of Work. The whitepaper outlines how a distributed timestamp server, blockchain, and longest-chain rule ensure consensus, security, and immutability while preventing fraud. It also describes incentives for miners through block rewards and transaction fees, ensuring honest participation and network sustainability. Overall, the paper presents Bitcoin as a system that replaces centralized trust with mathematics, enabling secure, transparent, and censorship-resistant digital value transfer on a global scale.
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