Winston Churchill once said, "The further you look back, the further you can look forward." This idea is beautifully reflected in Bitcoin. Rather than being the result of cutting-edge research in any single field, Bitcoin's success lies in its ability to integrate and refine concepts from various older disciplines. It’s a perfect example of how innovation often comes from combining existing ideas in new and powerful ways. This article explores the academic roots of Bitcoin and blockchain, presenting a model for how technological innovation can emerge through the combination of diverse fields. Although the piece is lengthy, every paragraph highlights key moments in the evolution of digital technology. As you go through the content, the structure makes it easy to grasp the overall development of Bitcoin’s technical path. The article breaks down the general ledger, currency design, and mining processes, showing how these elements came together to form the revolutionary concept of Bitcoin. One particularly interesting aspect is the challenge of distributed consensus. While many modern distributed systems don’t face Byzantine failures, Bitcoin operates on a large-scale P2P network where trust is minimal. How does it solve this issue? And what motivates nodes to participate in the consensus process? This article offers a detailed and insightful explanation. If you’ve seen Bitcoin in the media or have some background in cryptography, you might recall that digital cash projects like those by David Chaum (literature 10, 12) failed to achieve commercial success due to their reliance on centralized servers. Banks were unwilling to support them. But with Bitcoin, a decentralized solution emerged, finally making digital cash viable. Satoshi Nakamoto, the mysterious creator of Bitcoin, was not an academic, and his work bore little resemblance to earlier attempts. *Note: David Chaum, known as the father of digital cash, developed the concept as early as 1983—25 years before Bitcoin was introduced.* This paper argues that most of Bitcoin’s core technologies originated from academic research in the 1980s and 1990s (see Figure 1). This isn’t to diminish Nakamoto’s contributions, but to highlight that he built upon the work of many before him. His genius lay in combining these components in a novel way, which explains why Bitcoin took so long to appear. Readers familiar with Bitcoin will gain a deeper appreciation for its historical context. For more details, refer to *Bitcoin and Cryptocurrency Technologies* by Arvind Narayanan et al. (Ref. 36). *Note: Bitcoin can be seen as a model of combined innovation.* The concept of a general ledger is central to understanding Bitcoin. In traditional banking, a ledger tracks transactions between accounts, but in Bitcoin, the ledger is open, immutable, and maintained by all participants. Unlike bank accounts, which represent balances, Bitcoin represents a series of transactions with fixed values. But how can such a ledger exist in an environment of mutual distrust, like the internet? One key factor is the data structure used. It must be immutable—once added, transactions cannot be altered or deleted. Additionally, a cryptographic hash is used to summarize the ledger’s state. If any part of the ledger is tampered with, the hash changes, making the manipulation detectable. These features are essential because a general ledger in a decentralized system is maintained by untrusted participants, unlike traditional systems where a central authority ensures consistency.

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