Blockchain Basics

Module 2: The history of blockchain technology creation

This module will briefly tell the history of blockchain technology from the emergence of the first concept to worldwide recognition.


The concept of blockchain was first proposed in 1991 by Stuart Haber and Scott Stornetta. The technology was designed to protect digital documents but did not receive recognition.

Later, in 2004, Hal Finney introduced the Reusable Proof of Work system and the Hachcash token, which could be transferred to other users.

In 2008, Satoshi Nakamoto published the whitepaper for Bitcoin. In 2009, he mined the first block in the blockchain and received a reward of 50 BTC. The identity of Satoshi Nakamoto is still unknown.

Later, in 2013, Vitalik Buterin proposed using a scripting language in Bitcoin, but it was not approved. He then created his own blockchain, Ethereum, which implemented smart contracts. They are now used in a variety of different blockchains.

Sabai Academy

Receive daily PASSIVE INCOME with Sabai Property!

Further Reading