When did Blockchain start?

When did Blockchain start

When did blockchain start?

The blockchain traces its roots back to the invention of the first cryptocurrency, Bitcoin. It was essentially a source code for the technology behind bitcoin and an accounting system that kept track of the currency.

Bitcoin came into existence in October 2008 when a pseudonymous developer(s), Satoshi Nakamoto, published the white paper entitled “Bitcoin: A Peer to Peer Electronic Cash System”. The very first coins were however mined in 2009 and set into motion the very first blockchain.

This was just the first of many subsequent blockchains. Each new cryptocurrency is built on its own blockchain framework. This came to be when developers realized that the technological platform on which bitcoin was based could be applied for other innovations as well.

This technology provides security on the networks and allows miners on the different networks to generate new coins and verify transactions.