Bitcoin

Bitcoin originated in 2008, proposed by Satoshi Nakamoto. After the economic crisis (Lehman Brothers) (opens in a new tab), there were criticisms about centralized monetary system and unrestrained money issuance.

4 main componets of blockchain

Block & Transaction
Distributed Network (P2P for bitcoin)
Cryptography
Consensus Algorithms

Token Economy

Users: Purchase bitcoin, and send bitcoin to blockchain
Miners: Mine Bitcoin from blockchain and sell it to Users

Blockchain Trilemma

Bitcoin Trillema

Only 2 out of three components can be achieved at maximum.

bitcoin, ethereum 1.0 (based on PoW) -> decentralization, security
ethereum 2.0 -> decentralization, scalability
cosmos, ripple, BBC -> scalability, security

Network Ethereum