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Though the concept of a white paper is now all the rage among alternative cryptocurrency coins and tokens, it’s the hallmark method of communicating ideas among the professional research community.Įven though the cryptocurrency economy today occupies center stage in the financial press and a growing share of national attention, when it emerged Bitcoin was as far from this as possible. The cryptography forum was similar in nature to an academic research seminar, where professional scientists politely but insistently attempt to tear down ideas to arrive at the truth. We tend to think of technology as operating at warp speed, changing rapidly and being driven by ambitious, young college dropouts, but Bitcoin wasn’t based on “move fast and break things.” It was and is the opposite: a slow, careful deliberation based on decades of real science practiced not by kids, but more like their parents.
Thus, Bitcoin didn’t fall out of the sky, but emerged out of a long lineage of ideas developed over decades, not days or weeks. Adam Back came up with proof-of-work for HashCash while trying to solve the problem of eliminating spam in emails. For example, the white paper cites HashCash from 2002, also part of the corpus of knowledge that preceded Bitcoin. Both the white paper and the conversations around it reference prior attempts at implementing the proof-of-work algorithm, one of the core features of Bitcoin. It follows the structure of an academic paper, has citations and looks similar to what any paper in computer science may look like today. The Bitcoin white paper bears similarity to academic research.
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This allowed participants of the forum to download the software, run it and test it on their own.
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Shortly thereafter, Nakamoto provided the full implementation of Bitcoin. After that announcement, he began to field questions from the forum on both the concept and its execution.
It was on this mailing list that the pseudonymous creator of Bitcoin, Satoshi Nakamoto, announced his solution for an electronic payment system. Here’s where some of the early giants of applied cryptography spent time, like Hal Finney, one of the early pioneers of Pretty Good Privacy (PGP). This was an obscure electronic gathering of a diverse cadre of scientists, technologists and hobbyists who were developing and sharing ideas of advancements in cryptography and computer science. To understand this, we must peer into Bitcoin’s history.Īt the turn of the century, a ragtag band of cryptographers, computer scientists, economists and libertarians - the cypherpunks - exchanged messages over an internet mailing list. Bitcoin has an even tighter relationship with its intellectual and academic roots. So, there’s certainly a correlation between universities and the tech sector. Yet, it’s no accident Silicon Valley and Route 128 both emerged in proximity to our nation’s greatest coastal universities. After all, innovations like Facebook, Microsoft, Apple and even Ethereum were launched by young men who didn’t graduate from college. Technologists are in constant contact with real needs of customers today, while university faculties develop basic science that (may) have application far into the future. One may wonder why anyone should even assume a relationship between Bitcoin and universities.
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