A bit of history about cryptocurrency. Bitcoin was the first cryptocurrency created and was launched in January 2009 by a computer programmer using the pseudonym Satoshi Nakamoto. A 2008 white paper by Bitcoin’s creator revealed what would be known as the blockchain. Cryptocurrencies are exchanged on decentralized computer networks between people with virtual wallets. These transactions are recorded publicly on distributed ledgers (blockchains) to prevent the duplication of coins and eliminate the need for banks to validate transactions.
To dig deeper, visit the original article on the Thomson Reuters blog.