Satoshi Created Bitcoin Thanks to Invention Made Exactly 23 Years Ago: Details

Key Points

1. Adam Back invented Hashcash on August 1, 2002, to combat email spam and denial-of-service attacks, which later influenced Bitcoin's proof-of-work mechanism.

2. Satoshi Nakamoto adapted Hashcash's concept in 2008 to create Bitcoin's mining and security system.

3. Some in the crypto community believe Adam Back is Satoshi Nakamoto, but Back denies this, and analysis of their writings found no similarities.

4. Back's company, Blockstream, developed the Bitcoin Lightning Network to enable faster Bitcoin transactions.

5. The article mentions unrelated cryptocurrency market updates and promotions, which are not central to the main topic.