History of cryptocurrencies

Crypto began in the late 1980s

The idea is for a currency that could be sent anonymously and in such a way that does not require centralized entities. I.e local banks.

David Chaum, an American cryptographer in 1995 implimented an untraceably cryptographic e-money called Digicash, this was the early form of cryptographic electronic, when during payments and transactions, it requires users software to withdraw from local bank and inquire specific encrypted keywords or strings before it could be sent to the receiver.

Read on: How does Ethereum works

Often called direct precursor to Bitcoin, Bitgold was designed in 1998 by Nick Szabo. Users must dedicate device power to solving cryptographic puzzle before receiving the reward, putting both Szabo and chaum's concept together, then you have something you can Bitcoin twin.

Without the use of a central authority, and so, it was not until a decade later when an anonymous person or persons, using the pseudonym Satoshi Nakamoto, unveiled a white paper called Bitcoin BTC- A peer to peer e-cash system, that the history of BTC and subsequent cryptos began.

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History of Bitcoin

Ethereum

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