What are Bitcoins?
Bitcoin is a decentralized digital currency created to be a medium for digital exchange of value. Bitcoin is the first crypto asset created by someone with the pseudonym Satoshi Nakamoto. As the first crypto asset, Bitcoin became the catalyst for the birth of the crypto industry because of the innovation it brought.
Bitcoin itself was not born suddenly. Basically, Satoshi Nakamoto's innovation was built on previous digital currency iterations. Some of the digital currency efforts that became the foundation for the creation of Bitcoin were Bit Gold (Nick Szabo), DigiCash (David Chaum), and Hal Finney's Reusable Proof of Work.
The main issue with this digital currency is that it cannot solve the problem of Byzantine General and double spending. Meanwhile, Satoshi Nakamoto succeeded in solving both of these problems through Bitcoin.
