The first cryptocurrency was Bitcoin, which was created in 2009 by pseudonymous developer Satoshi Nakamoto, and used SHA-256 as its proof-of-work scheme.[3][15][16] Later on, other major cryptocurrencies, such as Namecoin (an attempt at a decentralized DNS, which would make internet censorship very difficult), Litecoin (which uses scrypt as a proof-of-work, as well as having faster transaction confirmations) and Peercoin (which uses a proof-of-work/proof-of-stake hybrid, and has inflation of about 1%) were also created.[1] Many other cryptocurrencies have been created, though not all have been successful, especially those that brought few innovations.
