satoshi nakamoto was the name of a paper posted on the internet in November 2008 titled bitcoin it was a Peer-to-Peer electronic cash system. this paper explane the methods of using a peer-to-peer network to generate what was described as "a system for electronic transactions without relying on trust". in january 2009, the bitcoin network come to the world with the release of the frist open source bitcoin client and issuance of the frist bitcoins,with satoshi nakamoto mining the first block of bitcoin ever ( known as the "genesis block"), which had a reward of 50 bitcoins. one notable transaction of 10,000 BTC used to indirectly purchase two pizzas delivered by Papa John's
on August 2010, a major vulnerability in the bitcoin protocol was spotted transactions weren't properly verified before they were included in the transaction log or "blockchain" which let users bypass bitcoin's economic restrictions and create an indefinite number of bitcoins.on 15 August, the vulnerability was exploited; over 184 billion bitcoins were generated in a transaction, and sent to two addresses on the network. within hours, the transaction was spotted and erased from the transaction log after the bug was fixed and the network forked to an updated version of the bitcoin protocol.
this was the only major security flaw found and exploited in bitcoin's history.
