Evolution of Bitcoin technology from "summary" of The Basics of Bitcoins and Blockchains by Antony Lewis
Bitcoin technology has undergone significant evolution since its inception in 2009. The first version of Bitcoin was released by an unknown person or group under the pseudonym Satoshi Nakamoto. This version was a basic peer-to-peer electronic cash system that allowed users to send and receive payments without the need for a central authority. Over the years, developers have made various improvements to the Bitcoin protocol to enhance its functionality and security. One of the most notable upgrades to Bitcoin technology was the introduction of Segregated Witness (SegWit) in 2017. SegWit was designed to increase the block size limit on the Bitcoin blockchain, allowing for more transactions to be processed in each block. This upgrade also fixed a bug in the Bitcoin protocol that made i...
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