in

Cryptocurrency Guide for Beginners

3. Who – or What – Started Cryptocurrency?

In 2008, cryptocurrency took its next evolutionary step. A developer going by the pseudonym Satoshi Nakamoto created the bitcoin protocol we know of now using a specific cryptographic hash function – specifically “Secure Hash Algorithm 2” designed by the National Security Agency! If you’re wondering, hash functions are algorithms that chart and map data of an arbitrary size onto data of a fixed size. If you weren’t wondering, well, now you know! This new bitcoin was the first incarnation of decentralized cryptocurrency, and it was launched formally in 2009.

The man allegedly known as Satoshi Nakamoto:

Photo of Satoshi Nakamoto
Photo Courtesy of The Sun