In the eyes of many, Bitcoin is the first real digital currency or cryptocurrency, the idea of which was published in the Bitcoin White Paper in 2008 and its first coins were mined in 2009; Even before Bitcoin, there were many attempts to create a digital currency. The idea of creating digital currencies stems from the two big problems of “trusting a third party” and “spending twice”. When you ask banks to transfer money and By keeping it, you actually trust that bank. Even if you look at the story more generally, trust is necessary to carry out many of your tasks.
The double-spending problem in financial systems was solved by central servers checking balances, preventing people from spending a certain amount of money again. This solution was presented in a decentralized manner in Bitcoin, and all people could prevent others from cheating by checking the history of transactions. Bitcoin was released as the first electronic money that was able to solve the problem of trust and double spending. People no longer needed to trust a person, organization, group or bank to transfer and store money. Trust had also become a big problem for humans not only in money transfers but also in many other matters. For this reason, the trustless system provided by Bitcoin was also used in other human activities. Digital currencies were gradually created to solve different concerns. As an example, Ethereum introduced itself as a platform for the development of various programs and the implementation of smart contracts, and Ripple, with an optimistic view of banks, focused on restructuring interbank communications and providing a high-speed and low-cost payment system. Today, many tokens are on the platform of currencies. Digital ones such as Ethereum, IAS, and Tron have been created that take advantage of the power of the main blockchains to execute their transactions.