Menu IconA vertical stack of three evenly spaced horizontal lines. We know some of bitcoin domains laughed. If you did, you may want to read on. It’s becoming increasingly clear that Satoshi’s creation has the potential to change how much of commerce itself works, and for reasons not even many Bitcoin fans realize.
In the real world, this problem gets avoided with cash, which is quite difficult to counterfeit. In practice, digital counterfeiting is much easier. Satoshi’s solution was what has become known as the blockchain: a ledger of all transactions owned and monitored by everyone but ultimately controlled by none. It’s like a giant interactive spreadsheet everyone has access to and updates to confirm each digital credit is unique.