First Generation Blockchain

In first generation of Blockchain, we have observed Bitcoin successfully act as a purely peer-to-peer version of electronic cash which allows online payments to be sent directly from one party to another without going through a financial institution. [1] The network is secured cryptographically, verified by a decentralized global network and recorded into an immutable public ledger.

[1] S. Nakamoto, “Bitcoin: A peer-to-peer electronic cash system” 2008.

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