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btc#ETh pi October 31, 2008, Satoshi Nakamoto published the Bitcoin White Paper On October 31, 2008, the anonymous creator of Bitcoin, Satoshi Nakamoto, first published "Bitcoin: A Peer-to-Peer Electronic Cash System" (Bitcoin White Paper)). Bitcoin is a purely peer-to-peer electronic cash system that allows users to make direct online payments without relying on financial institutions as intermediaries. Although digital signatures can provide security to some extent, if there is still a dependence on trusted third parties to prevent double spending, its main advantages cannot be realized. An innovative solution uses a peer-to-peer network to address the double-spending problem. This network hashes transaction information and embeds it into a continuously growing blockchain based on a proof-of-work(Proof of Work) mechanism, adding timestamps to each transaction. Once the transaction record is confirmed, it cannot be altered unless a new proof of work is performed. The longest blockchain can demonstrate the order of events and prove that the chain comes from the group of miners with the greatest hash power. As long as the majority of hash power is controlled by nodes not participating in attacks, these nodes can maintain the longest chain and stay ahead of attackers. The network structure is extremely simple: messages are propagated via broadcasting, nodes can leave and rejoin the network at any time, and the longest proof-of-work chain serves as evidence of events that occurred during their absence. Satoshi Nakamoto initially referred to blockchain as the Time Chain The "Time Chain" first appeared in the original Bitcoin code written by Satoshi Nakamoto in 2008-2009. In early versions of Bitcoin's C++ code, variable names and comments referred to the system as the "Time Chain" rather than the "blockchain." For example, the code includes references such as: //Add a block to the Time Chain. This terminology indicates that the ledger was originally envisioned as a sequence of blocks ordered by time, rather than the contemporary term "blockchain." The concept behind the "Time Chain" is verification in chronological order. The system uses cryptographic proof of work to confirm and protect the sequence of previous blocks. Essentially, each block contains a timestamp and the hash of the previous block, establishing a verifiable, timestamped record sequence. This mechanism is revolutionary because it solves the double-spending problem without a central authority, making Bitcoin the first trustless, time-based monetary ledger. Major Development Timeline October 2008: The Bitcoin White Paper published by Satoshi Nakamoto did not include the term "blockchain"; at that time, Satoshi referred to it as "a chain of blocks"(A Chain of Blocks). January 2009: Bitcoin v0.1 code was released, internally referencing "Time Chain"(Time Chain). 2010-2012: The Bitcoin community gradually adopted "Blockchain"(Blockchain) as the general term. 2013 and beyond: "Blockchain" became the industry mainstream term; the term "Time Chain" gradually faded out, mainly used in historical or philosophical contexts.