In 2009 the combination of a blockchain database, a peer-to-peer network, secure cryptography and an innovative consensus mechanism enabled the creation of a decentralized application with an immutable, decentralized digital register.
This decentralized application introduced the concept of decentralized mathematically secured digital scarcity and runs a payment system called Bitcoin.
Currently Bitcoin is slower, more expensive, less scalable with poor user experience than traditional centralized solutions. It shortcomings typical for early technology developments.
However it is an open-source, permission-less internet protocol, which offers global censorship-resistant payments. This technology offers a new way to communicate value.
It is new internet infrastructure and it facilitates Bitcoin and other cryptoassets with hundreds of excellent developers and businesses working on its code and its global ecosystem.
This technology will continuously become better, more antifragile with fast second-layer protocol networks and an overall improving user experience and privacy.
It is a technology breakthrough and a movement, which will not disappear.