In November 2008, a paper was posted on the web under the name Satoshi Nakamoto titled bitcoin: A Peer-to-Peer Electronic Cash System. This paper nitty gritty strategies for utilizing a shared system to create what was portrayed as "a framework for electronic exchanges without depending on trust". In January 2009, the bitcoin system appeared with the arrival of the main open source bitcoin customer and the issuance of the principal bitcoins, with Satoshi Nakamoto mining the primary square of bitcoins ever (known as the "beginning piece"), which had a prize of 50 bitcoins. The estimation of the primary bitcoin exchanges were arranged by people on the bitcointalk gatherings with one prominent exchange of 10,000 BTC used to by implication buy two pizzas conveyed by Papa John's. 

On 6 August 2010, a noteworthy helplessness in the bitcoin convention was spotted. Exchanges weren't legitimately checked before they were incorporated into the exchange log or "piece chain" which give clients a chance to sidestep bitcoin's financial limitations and make an uncertain number of bitcoins. On 15 August, the helplessness was misused; more than 184 billion bitcoins were created in an exchange, and sent to two locations on the system. Inside hours, the exchange was spotted and eradicated from the exchange log after the bug was settled and the system forked to an overhauled variant of the bitcoin protocol. This was the main real security defect found and abused in bitcoin's history.

Growth[edit]