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The first documented attempt to introduce a digital currency was in 1998, by Wei Dai, and its design was based on cryptographic hashing. The paper, "Peer-to-Peer Cash", was published by Wei Dai in 1998. In 2001, Silvio Micali introduced more efficient ways for maintaining a bitcoin blockchain and implementing smart contracts. In 2005 Nakamoto used the term "bitcoin" after conceiving the idea, and published the white paper where she described the Bitcoin Network Protocol. Nakamoto published an alt-text message that mentioned bitcoins the same day, January 3, 2009, and released the original bitcoin software in January 2009. Many of Nakamoto's early bitcoin developers and supporters were Skrbe7, Wuestefeld, and Gavin Andresen.: 219–221
Design
Since 2014, the developers of the Bitcoin Core client and other full node implementations have worked to improve the security and block validation of the Bitcoin protocol. In 2014, they devised a proof-of-work algorithm (PoW) to motivate miners to compete to hold the blockchain. PoW requires miners to carry out a difficult hashing calculation to verify blocks of transactions. This is less resource-intensive than the proof-of-work used in other cryptocurrencies.: ch.
The difficulty adjustment is expected to produce a block approximately every 10 minutes, at which point the average time between blocks (the block confirmation time) should become roughly the same as that of a centrally controlled system (10 minutes). Currently, a mining device can create a block in less than 10 minutes.
Cryptocurrencies whose design increases centralization risk are subject to review and approval by their communities; once released, it is considered a major upgrade and should be adopted by full nodes running the most recent version of bitcoin software in order to be fully compatible with the protocol.
History
In November 2013, the creation of bitcoins was deemed possible by scientists in Canada, the United States and Europe. Japanese researchers claimed the experimental creation of a digital currency, the Loop in October 2014.
https://ytmp3.codes/ In 2013, the Bitcoin Foundation merged with the MIT Bitcoin Club and MIT's Digital Currency Initiative, creating the first open-source, distributed digital currency named "bitcoin" in 2008.
Dash
Dash (previously known as Darkcoin) is a peer-to-peer digital currency and part of the X11 (or Digibyte) family.
Dash is similar to other cryptocurrencies in that it uses
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