With this statement, Satoshi Nakamoto introduces a groundbreaking concept in the field of digital transactions:
A new electronic cash system: This refers to Bitcoin, marking the inception of a currency that exists only in digital form, designed to facilitate online payments. Unlike previous digital payment systems, this one was intended to be a currency in its own right, not just a means of transferring traditional money.
Fully peer— to— peer: In traditional financial systems, transactions often go through intermediaries like banks or payment processors. Nakamoto’s system, however, operates on a decentralized network where transactions occur directly between individuals (peers)…
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