Update
Bitcoin White Paper Turns 18, Highlighting Network Security Model
Bitcoin's white paper turns 18 on October 31, 2026, marking nearly two decades since Satoshi Nakamoto introduced the concept of electronic payments without a central intermediary. The anniversary brings renewed attention to the network's security model, particularly as newly issued bitcoin becomes increasingly scarce. The original proposal outlined a way to prevent double-spending through a peer-to-peer network and a method for participants to agree on transaction history without putting one institution in charge. The incentive model encourages participants to direct their resources toward maintaining the shared history, with proof-of-work making rewriting confirmed transactions costly.