In this episode of Bitcoin, Explained, Aaron and Sjors discuss two electronic cash projects that predate Bitcoin: Adam Back’s Hashcash and Nick Szabo’s Bit Gold. As detailed in Aaron’s new book, The Genesis Book, these systems introduced design element that were later utilized by Satoshi Nakamoto. Aaron and Sjors explain what these elements are, and how they inspired Bitcoin’s design.

To buy Aaron’s new book, visit ⁠www.thegenesisbook.com⁠. 

Mentioned:

* 1992 Dwork & Naor: Pricing via Processing or Combatting Junk Mail

* 2002 Back: Hashcash - A Denial of Service Counter-Measure

* Bit Gold: Bitcoin Magazine article (1998)

* One-way function: Wikipedia

* Secure-benchmark function: Intrapolynomial Cryptography (1999)

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This episode’s sponsor: CoinKite, maker of the ColdCard

Aaron's Twitter: @AaronvanW

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Sjors’ Twitter: @provoost

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Episode 88: Hashcash and Bit Gold

Bitcoin Explained - The Technical Side of Bitcoin