#Botcoin $BTC $BNB Nakamoto Notes: An Introduction to Bitcoin and Its Architecture Welcome to the first edition of Nakamoto Notes, a series where we dive deep into all things Bitcoin. These articles aim to decode the core technical concepts and internal machinery that power Bitcoin.

Bitcoin is a decentralized digital currency that was created in 2008 by an unknown person or group using the name Satoshi Nakamoto. It was the first successful cryptocurrency and remains the most popular and valuable one.

Some key points in Bitcoin's history:

2008 - Satoshi Nakamoto published the Bitcoin white paper describing the technology behind Bitcoin. This outlined how peer-to-peer digital cash could work without a central trusted authority.

2009 - The first version of the Bitcoin software was released and mining of the genesis block occurred. The first Bitcoin transaction took place between Satoshi and Hal Finney.

2010 - The first real-world Bitcoin transaction took place when programmer Laszlo Hanyecz bought two pizzas for 10,000 BTC.

2011 - Bitcoin reached parity with the US dollar, meaning 1 BTC was equal to $1. Mainstream media coverage increased greatly.

2012 - The first Bitcoin halving occurred, reducing the block reward from 50 to 25 BTC.

2017 - Bitcoin price surpassed $10,000 for the first time and later reached nearly $20,000, bringing huge mainstream attention.

Bitcoin was created as a form of money that can be sent peer-to-peer without the need for a trusted third party. It aims to provide the following benefits:

Decentralization - No single entity controls the network. It is maintained by a distributed network of users.

Transparency - All transactions are publicly verifiable on the blockchain.

Irreversibility - Transactions cannot be reversed once confirmed on the blockchain.

Pseudonymity - Wallet addresses are not linked to real-world identities.