The Origin and Development of Blockchain
Blockchain was first introduced in 2008 by Satoshi Nakamoto in the Bitcoin whitepaper.
At the time, people began to realize this was a new technology that enabled decentralized system operation.
What Is Centralized Operation?
To understand the concept of "decentralized operation," we should first explore what a "centralized operation" system is.
Most of the systems we interact with daily are centralized, meaning a single entity has full control over the entire system.
For example, the popular search engine Google is a typical centralized system.
Google, as a company, can unilaterally change its algorithms at any time, immediately affecting the ranking of all search results.
What Is Decentralized Operation?
Decentralization means that the operational power of a system is distributed across multiple independent computing nodes.
Each node only has partial authority and cannot control the entire system on its own.
Take Bitcoin as an example. As of 2025, it is operated collaboratively by around 10,000 independent nodes worldwide.
These nodes are set up and maintained by people from different countries who don’t necessarily know each other.
Anyone has the right to set up their own node and join the network.
When a Bitcoin transaction occurs, more than half of the nodes must approve it for it to be successfully written into the Bitcoin ledger.
Similarly, if the Bitcoin system needs an upgrade, it must go through a consensus mechanism—an upgrade only proceeds if a majority of nodes agree.
This decentralized system structure prevents any single entity or individual from monopolizing control.
Looking at it from another perspective, if a currency system is controlled by a single entity, the system could collapse instantly if that entity ceases to operate.
So for a native internet-based currency system, decentralized operation is absolutely essential.
The Development of Blockchain Technology
In just over a decade of rapid growth, Bitcoin has become widely known, and blockchain technology has given rise to numerous emerging industries.
For instance, mining companies use large-scale computing equipment to maintain blockchain networks and earn Bitcoin as a reward.
There are also specialized exchanges that provide cryptocurrency trading services.
As blockchain technology matures, cryptocurrencies are increasingly integrated into daily life, gradually becoming an accepted payment method for businesses.
Many companies and individuals now accept crypto payments—whether for travel accommodations, ski lessons, or other daily expenses, crypto makes payments easy.
Based on current trends, the number of companies accepting cryptocurrency is expected to keep growing over the next ten years.
Each cryptocurrency will likely develop its own user base,
and the relative value of fiat currencies compared to cryptocurrencies may gradually decline.
As more companies are willing to accept cryptocurrencies,
people will naturally be more inclined to hold and use them,
thereby accelerating their mainstream adoption.